NEP Canada Awarded $185 Million Judgement in Post-Acquisition Dispute
By EsqSocial Corporation 19/04/21
Overview of the Dispute - The assets which are the subject of this dispute involve a number of oil fields in Alberta. Those assets included wells, pipelines and facilities in the Pembina field, the Leduc-Woodbend field and others. NEP acquired the equity (associated with the assets) for $175 million through a Share Purchase Agreement with MEC dated August 18, 2011, which closed on September 30, 2011.1 Shortly after closing, NEP discovered that among other things, the assets were plagued by...
By: FTI Consulting