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

Keppel Shipyard in Singapore. PHOTO: KEPPEL CORP
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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.

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