Wexford Subsidiary Sues Over $630M Sale Of Well Servicer

Law360, Los Angeles (September 12, 2012, 10:20 PM EDT) -- A Wexford Capital LP subsidiary sued Archer Wells Co. over the private equity company's $630 million sale of a pumping services company, alleging Archer breached the terms of the purchasing agreement and withheld tens of millions of dollars being held in an escrow account, according to a complaint filed Tuesday. 

The lawsuit, filed by GW Holdings I LLC in New York state court, is part of the continuing fallout related to the sale of Great White Energy Services LLC to Archer in August 2011. The complaint...
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