Claims against Sembcorp, SembMarine regarding Sete Brasil dismissed

SINGAPORE (April 3): The US District Court for Columbia has dismissed claims made by EIG Management against Sembcorp Industries and Sembcorp Marine regarding EIG's investments in its troubled customer, Sete Brasil.

The claims were in part of a law suit filed by EIG, a fund management company based in Washington, US, against Brazilian oil giant Petrobras in May 2016, pertaining to EIG’s investments of over US$221 million ($305.2 million) in troubled Sete Brasil.

Both Sembcorp and SembMarine were named, along with other shipyards and their entities, as defendants in the suit.

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