Tanker Co. Claims DOT Biased Against PE-Backed Firms

Law360, New York (July 17, 2012, 7:41 PM EDT) -- A Pennsylvania-based petroleum shipping company owned by the Blackstone Group LP on Monday sued the U.S. transportation secretary and other officials Tuesday, claiming they are improperly keeping the firm from participating in a Department of Transportation loan program because it is private equity-backed.

American Petroleum Tankers Parent LLC sued Transportation Secretary Ray LaHood and David T. Matsuda, head of the U.S. Maritime Administration, claiming they have unlawfully refused to guarantee a $340 million loan because APT is owned by Blackstone. The suit seeks emergency relief and...
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