News

IEVM v. United Energy Group Ltd., et al.
February 18, 2015

AZA developed the winning argument that knocked this $46.5 million fraud and breach of contract case out of court before AZA’s client was even required to participate in discovery. AZA was able to destroy the case against its client even though a co-defendant was not able to obtain the same clean win.

Energy investment bank Mueller Chen & Co LLC represented Hong Kong-based United Energy Group Ltd. (“UEG”) in its 2011 acquisition of BP’s exploration and production assets in Pakistan for around $800 million. A consulting group, International Energy Ventures Management LLC (“IEVM”), assisted United Energy Group in evaluating the BP assets. IEVM then claimed it was owed a $46.5 million success fee following the acquisition.

AZA used the same facts IEVM used to support its claims, but AZA applied new, more robust legal analysis in arguing that IEVM’s claims for fraud and breach of contract were fundamentally flawed. The court agreed, unconditionally dismissing all claims against AZA’s client.

AZA lawyers: Elizabeth Fletcher.

Top

Send this to friend