- Created: Friday, 21 April 2017 08:58
Philippi Prietocarrizosa Ferrero DU & Uría defended Alkhorayef Petroleum Colombia in a lawsuit brought by Blackstone Energy Colombia.
Alkhorayef Petroleum is a Middle Eastern company that designs and manufactures electrical submersible pumping equipment for the oil and gas sector and Water Business. The compamny is headquartered in Saudi Arabia with global operations, including a subsidiary in Colombia.
Blackstone Energy is an independent energy management firm headquartered in Toronto, Canada. Its Colombian subsidiay sued Alkhorayef for $6 million for alleged unjust contract termination. Blackstone Energy claimed there was a de facto commercial agency between the parties and that Alkhorayef unjustly terminated it so the company should be held liable for the termination and therefore ordered to pay commercial severance and equity indemnification. The court denied all claims of the lawsuit and there was no appeal.
Partner Héctor Hernández led the PPU team acting for Alkhorayef.