Master Asset Sues Over 2006 La. Oil Refinery Sale

Law360, New York (August 12, 2009, 12:24 PM EDT) -- Real estate services company Master Asset Services LLC has filed a breach of contract suit against Petro Disposal LLC, alleging the Louisiana real estate holding company concealed the sale of an oil refinery to avoid obligations under a listing agreement.

Georgia-based Master Asset filed its complaint Tuesday in the U.S. District Court for the Western District of Louisiana, claiming that Petro not only concealed the 2006 sale of the Mermentau, La.-based Gold Line Refinery, but also undervalued the price of the refinery in an attempt to...
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