SBM Offshore 'Disagrees' With Brazil Court Over Payments
05 Julho 2018 - 3:17AM
Dow Jones News
By Oliver Griffin
SBM Offshore NV (SBMO.AE) said Thursday that it "strongly
disagrees" with a Brazilian court order obliging Petroleo
Brasileiro S/A (PBR), Brazil's majority state-owned petroleum
company, to withhold payments due to SBM.
Brazil's federal prosecutor filed a lawsuit against the Dutch
offshore oil-and-gas services company in December under the
country's anti-corruption laws. The prosecutor asked the court to
impose a provisional measure to secure payment for damages that
could potentially be awarded.
The Dutch company said that, from what it understands, the court
on Wednesday ordered Petrobras to start withholding a percentage of
the monthly payments it owes to SBM companies under certain charter
contracts in escrow as collateral.
The interim decision makes reference to the fact that SBM is
based overseas so the recovery of damages may depend on
international legal cooperation, SBM said.
SBM said that it strongly disagrees with the move and is seeking
clarification and taking all appropriate measures to defend its
interests.
Before taking a decision on the exact amount to be withheld, the
company said that the judge is requesting more information,
including financial details, from Petrobras and SBM, the Dutch
company said.
Write to Oliver Griffin at oliver.griffin@dowjones.com
(END) Dow Jones Newswires
July 05, 2018 02:02 ET (06:02 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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