Keppel says court papers not received in US civil case over Brazil bribes

Singapore-based Keppel Offshore & Marine (Keppel O&M) has not been served court papers in relation to a civil case being brought against it in US court by some funds managed by EIG Global Energy Partners, according to media in Singapore.

Reports in The Straits Times and The Business Times say parent company Keppel Corp says Keppel O&M has not yet been served the papers in the $663 million racketeering suit in a New York district court. The case is connected to bribery in Brazil and the collapse of drillship company Sete Brasil Participacoes.

EIG claims some of its funds lost $221 million of investment in Sete because of Keppel bribing officials at Brazil’s state oil firm Petrobras and some Brazilian politicians.

Keppel agreed late last year to pay $422 million in a criminal case settlement in the US over the same matter.

However, earlier last year the US District Court for the District of Columbia dismissed a civil case brought by some EIG-managed funds against Keppel O&M and some other firms for alleged conspiracy relating to the Sete investments.

The EIG funds are also pursuing a fraud case against Petrobras over the demise of Sete, which was a company created by Petrobras in 2011.

Donal Scully

With 28 years experience writing and editing for newspapers in the UK and Hong Kong, Donal is now based in California from where he covers the Americas for Splash as well as ensuring the site is loaded through the Western Hemisphere timezone.
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