Consultant Lays Claim To $47M From BP Asset Purchase

Law360, Houston (July 30, 2013, 7:35 PM EDT) -- United Energy Group Ltd. was hit with a suit in Texas state court Tuesday by a Houston company that says it is owed $46.5 million for consulting services it provided in connection with the purchase of South Asia oil and gas assets from BP PLC.

International Energy Ventures Management LLC says Hong Kong-based UEG is refusing to pay a promised 6 percent commission for providing technical evaluations and sourcing financing for a $775 million acquisition of BP’s Pakistan-based exploration and production assets in 2010.

Representatives for...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.