Court suspends 2nd Finmeccanica project.

THE ITALIAN conglomerate Finmeccanica, currently embroiled  in multiple international corruption investigations  got yet another hit on its profit projection, from Panama  with the suspension of a second contract.

The Third Chamber of Panama’s  Supreme Court has temporarily suspended the contract between the Ministry of Public Works and Telespazio Argentina, a subsidiary of Finmeccanica, for the supply, installation, maintenance, training and funding of a digital mapping system.

The decision was written by Nelly Cedeño and approved by Luis Ramón Fábrega. Abel Zamorano reserved his vote.

The contract was signed in 2010 and totaled $17.1 million.

Álvaro Alemán, current minister of the Presidency, filed a lawsuit seeking the annulment of the contract, claiming that it contained irregularities. So far, the state has disbursed $8.7 million to Telespazio. The map has not been delivered.

In an earlier decision, the court had suspended the contract with another Finmeccanica subsidiary, Selex, for the purchase of 19 radars at a cost of $125 million.

The Ministry of the Presidency also announced it plans to challenge the contract that led to the purchase of six helicopters for another $125 million, from Agusta, also a subsidiary of Finmeccanica.