Oil services firm
- The plan is being challenged by
Saipem Spa andSamsung E&A Co Ltd , who are Petrofac Group’s joint-venture partners in the Clean Fuels Project, an engineering project in Thailand- They argue the plan will cause them to assume upwards of $1 billion of Petrofac’s liabilities, court documents show
- The also argue the plan will transfer that value to various hedge funds who will make “significant profits,” from the restructuring and then further damage ...
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