Keppel confirms new EIG lawsuit filed in the US

Keppel confirms new EIG lawsuit filed in the US

Singapore’s Keppel Offshore & Marine has confirmed that it has been served with a summons for a $660m civil case being brought against it in US court by eight funds managed by EIG Global Energy Partners.

The case is connected to bribery in Brazil and the collapse of drillship company Sete Brasil Participacoes, which EIG funds had over $221m invested in.

Last year, the US District Court for the District of Columbia dismissed a civil case brought by EIG against Keppel for alleged conspiracy relating to its Sete investments. However, Keppel has since agreed to pay a $422m criminal case settlement in the US over the matter.

Keppel says it believes that the lawsuit is without merit and will vigorously defend itself.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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