Clients win energy sector international arbitration involving billions of dollars and government shareholder oppression.
Client Consolidated Energy Ltd. had a large interest in a downstream gas business in the twin-island Republic of Trinidad and Tobago when its local partner’s business collapsed. The government purchased the shares in what was supposed to be a temporary bailout. Ware Jackson lawyers were successful in every aspect of this extraordinarily complex case to enable their client to take control of the business. The case spanned five years and several continents and was litigated in the International Court of Arbitration in London.
Partner Eileen O’Neill proved there was shareholder oppression by the government and eventually forced the island nation to sell control of the multibillion-dollar business, Methanol Holdings Trinidad Ltd., at a $675 million discount to Consolidated Energy. Trinidad demanded $1.85 billion, but after a series of hearings in London, Consolidated Energy wound up only having to pay $1.175 billion to acquire the shares and gain control of the venture.