KBR Blocking Release Of Funds From $280M Deal, Suit Says

Law360, Wilmington (December 7, 2012, 8:39 PM EST) -- The portfolio company that sold Roberts & Schaefer Co. to a KBR Inc. subsidiary for $280 million accused the Houston-based firm of violating the purchase agreement by engaging in bad-faith tactics designed to block the release of millions of dollars still held in escrow, according to a complaint unsealed Thursday.

In a suit filed Monday in Delaware Chancery Court, ENI Holdings LLC alleges KBR Holdings LLC violated the terms of their agreement by consistently taking unreasonable and unjustifiable positions to thwart the release of more than...
To view the full article, register now.