Dresser-Rand Sued For $39M Over Power Plant Contract

Law360, New York (May 16, 2011, 12:21 PM EDT) -- A power plant maintenance company sued Dresser-Rand Group Inc. on Friday in Texas state court, claiming Dresser-Rand owes it $38.9 million for improperly terminating a five-year marketing contract about a month after it was signed.

According to MRO Services LLC's complaint, Dresser-Rand canceled the agreement because MRO founder Mitchell Robinson had misbehaved at a social outing hosted by Dresser-Rand, an accusation that MRO called "bogus."

"Even if these specious allegations were completely true, Dresser-Rand still had no contractual right to terminate the agreement," the complaint says....
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.