Sundance Seeks New Trial In $14M Rig Loan Suit

Law360, New York (April 12, 2010, 3:33 PM EDT) -- Sundance Resources Inc. has asked for a new trial in a breach of contract suit claiming it stopped making payments on more than $14 million in loans for oil and gas drilling rigs, and instead transferred funds to insiders and racked up debt.

The company and executives Michael Patman, David Patman and Pat Patman filed motions for a new trial and to amend judgment in the U.S. District Court for the Northern District of Texas on Friday.

The jury’s verdict as to all findings made against...
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