Energy Co. Seeks $465M From Shaw Group In Contract Suit

Law360, New York (August 24, 2012, 7:14 PM EDT) -- Energy firm Carbon Holdings Ltd. lodged a suit against The Shaw Group Inc. in Louisiana federal court on Thursday, looking to secure $465 million from the engineering and construction company for allegedly failing to fulfill contractual responsibilities for the development of a $3.75 billion petrochemical plant in Egypt.

Shaw Energy & Chemicals International Inc. agreed to partner with Egypt-based Carbon Holdings in 2010, committing to providing services and technologies for the project, but earlier this year announced that it would not be performing its obligations under...
To view the full article, register now.