Keppel Offshore & Marine trying to get second lawsuit by investors of US fund dismissed

Keppel Shipyard in Singapore.
Keppel Shipyard in Singapore.PHOTO: KEPPEL CORP

SINGAPORE - Keppel Offshore & Marine is trying to get the US federal court to dismiss a second lawsuit brought by a US fund manager to recover US$221 million (S$289.7 million) in lost investments.

In defence papers filed on March 30, the Keppel Corp unit said EIG Management has "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 bankrupt after Brazil's biggest corruption scandal was exposed in 2014.

Please or to continue reading the full article.

Get unlimited access to all stories at $0.99/month

  • Latest headlines and exclusive stories
  • In-depth analyses and award-winning multimedia content
  • Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months*

*Terms and conditions apply.