Petrobras America, the U.S. branch of Brazilian energy company Petrobras, has had its $250 million (approximately 343.8 billion KRW) damages lawsuit against Samsung Heavy Industries dismissed.
On the 8th, Samsung Heavy Industries announced that the U.S. Fifth Circuit Court of Appeals upheld the decision of the U.S. Federal District Court in Texas.
Previously, Petrobras America filed the lawsuit in 2019, claiming $250 million in damages related to the drillship DS-5 delivered in 2011, alleging that Samsung Heavy Industries misused brokerage fees paid.
However, in August last year, the U.S. Federal District Court in Texas dismissed Petrobras America’s lawsuit, stating that "there is no reasonable causal connection between Samsung Heavy Industries’ actions and the losses."
Petrobras America appealed the ruling, but the Court of Appeals again upheld the Texas Federal District Court’s decision, dismissing Petrobras’s lawsuit.
Samsung Heavy Industries stated, "If Petrobras disagrees with the Court of Appeals’ ruling and files another appeal, we will disclose the related information again."
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