(by Geck Finn)

The arbitration for $250 million is being sought by insurance underwriters as some defects in Boeing spacecrafts were found.

Boeing disclosed the information that the first versions of Boeing 702 had design problem, but the changes were made to remedy the issue.

That didn’t help insurers being obliged to pay claims of hundreds of millions dollars. It made them to start legal proceedings in the International Chamber of Commerce in Paris in an attempt to win compensation for it as they say Boeing have failed to remedy the defects hurriedly or give owners proper warning.

Insurers have said that the sum which accounts in $250 million was paid to Thuraya Satellite Communications Co.