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...
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