PE Firm Urges 5th Circ. To Nix $36M Damages In Contract Row
By Rosie Manins (August 11, 2020, 6:12 PM EDT) -- A Dallas-based private equity company on Monday told the Fifth Circuit it shouldn't owe $35.5 million in damages following a contract dispute over offshore oil and gas exploration, saying the money was never sought and the award was based on testimony excluded by the court.
SunTx Capital Partners II GP urged a three-judge appellate panel to reverse a Houston federal judge's ruling in a contract breach suit brought by Nigerian maritime company West African Ventures Ltd. and United Arab Emirates marine support services company Sea Trucks Group FZE over two exploration and production projects off the coast of Nigeria.
SunTx had guaranteed the...
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