Singapore: Singapore-listed offshore marine service provider Ezion Holdings is being sued by Dutch company Atlantic Marine Services in the Singapore High Court, Bloomberg has reported.
Atlantic Marine Services accuses Ezion Holdings of a conspiracy to induce Maersk Oil to breach charter agreements.
Atlantic Marine said in the suit it agreed to pay inflated charter rates to Ezion for the rig services provided to Maersk Oil to help the Singapore company secure bigger loans, and also claims that Ezion created the impression Atlantic Marine Services, which it had agreed to charter oil rigs with to Maersk Oil, was in financial trouble.
Maersk Oil said it has terminated its contract with Atlantic Marine for its failure to meet contractual obligations.
Ezion’s lawyer Peter Doraisamy said the claims are frivolous and without merit.
A closed hearing of the case is scheduled for June 2.
