Fund Owes $9M Over Power Plant Relocation Work: Suit

Law360, New York (January 6, 2012, 7:42 PM EST) -- Continental Energy Corp. on Thursday accused Americas Energy Fund I LP of owing it more than $9 million after failing to deliver a promised contract for engineering work on a power plant relocated from the U.S. to Guatemala.

The oil and gas exploration company alleges in Texas court that AEF, a Chile-based investment fund specializing in developing power plants in Latin America, reneged on a promise to award the engineering contract after Continental performed the necessary work to secure adequate approval and logistical support for the...
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.