Texas Biofuel Co. Launches $10M Suit Over Failed Venture

Law360, Houston (July 12, 2013, 7:41 PM ET) -- A Houston biofuels operation launched a $10 million suit in Texas court Friday, alleging a former business partner reneged on his obligation to buy a stake in the company and a related venture using foreign investments he raised.

Sunthenoil LLC, which was founded by former Cheniere LNG Inc. President Keith Meyer, claims that businessman Robert Dunlap borrowed $640,000, but failed to follow through on the loan's terms, which required that he invest millions in two of Meyer's businesses.

Dunlap could not be reached for comment Friday....
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