Keppel O&M wants EIG's 2nd suit dismissed

It says losses by investors in oil giant's unit were not due to its kickback payments

Keppel Offshore & Marine (O&M) is trying to get the United States federal court to dismiss a second lawsuit brought by a US fund manager to recover US$221 million (S$290 million) in lost investments.

In defence papers filed on March 30, the Keppel Corp unit said EIG Management "offered no facts to support proof of intent" by Keppel O&M to defraud investors of their investment in Brazilian oil giant Petrobras unit Sete Brasil, which went bust after Brazil's biggest corruption scandal was exposed in 2014.

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A version of this article appeared in the print edition of The Straits Times on April 14, 2018, with the headline 'Keppel O&M wants EIG's 2nd suit dismissed'. Print Edition | Subscribe