PetroSaudi Seeks Final Ax To Feds' $330M Forfeiture Suit
Law360 (April 21, 2021, 6:22 PM EDT) -- PetroSaudi urged a California federal court to permanently end a $330 million U.S. Department of Justice forfeiture suit, slamming the action as a "bloated" and "confusing" attempt to connect its arbitral award to the 1MDB scandal.
The second amended complaint still can't show that a PetroSaudi Oil Services (Venezuela) Ltd. drilling project that led to the $330 million arbitral award was partly funded by misappropriated 1Malaysia Development Berhad funds, PetroSaudi Oil Services argued.
"If the government could link claimant or the relevant drill ship involved in the arbitration to funds from 1MDB, it would. It does not because it cannot," the...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!