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Samsung Heavy Industries |
[Alpha Biz= Reporter Kim Jisun] On August 8, Samsung Heavy Industries announced that the lawsuit filed by Petrobras America, the U.S. subsidiary of Brazil's state-controlled energy company Petrobras, has been dismissed. The lawsuit, seeking $250 million in damages, was ruled against Samsung Heavy Industries.
According to the announcement, the U.S. Fifth Circuit Court of Appeals upheld the decision of the U.S. District Court in Texas, finding no errors in the lower court's ruling or legal reasoning. The district court's judgment effectively dismissed Petrobras America's claims.
Petrobras America had originally filed the lawsuit in 2019, alleging that Samsung Heavy Industries had used funds improperly related to a brokerage fee paid for the delivery of the drillship DS-5 in 2011. The claim was that this improper use led Petrobras to lease the drillship at an inflated cost.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
