Baystar ethane cracker in Port Arthur, the first of two project contracted to CB&I. Courtesy Image: Baystar King & Spalding Secures Path for Client's $75.4M Claim on Polyethylene Plant Project
Texas law does not provide injunctive relief to preclude payment on a letter of credit for contractual disputes, 14th Court of Appeals Justice Frances Bourliot said.
July 23, 2024 at 03:40 PM
4 minute read
What You Need to Know
- Baystar may enforce its right to $75.4 million in liquidated damages against a McDermott International Ltd. subsidiary.
- CB&I sued Baystar to keep it from drawing on a letter of credit after CB&I failed to meet a deadline on a $1.2 billion project.
- CB&I was under contract to build a high-density polyethylene plant in Pasadena, Texas.
King & Spalding attorneys prevailed on appeal for client Baystar on its attempt to enforce a contractual right to $75.4 million in liquidated damages against a McDermott International Ltd. subsidiary.
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