$8M of Misappropriated Oil Company Assets Fueled Quinn Emanuel Litigation, Court Filing Contends

"In effect, Quinn Emanuel has been using millions of dollars of the bondholders' own funds to sue them," bankrupt Singaporean drilling company Oro Negro Drilling asserted in a May 17 discovery request.

May 24, 2024 at 01:46 PM

3 minute read

Litigation

By Justin Henry
Reporter

The original version of this story was published on The American Lawyer

What You Need to Know

Quinn Emanuel's receipt of $8 million for litigation involving a bankrupt oil rig company has come under scrutiny.
In the discovery request, the oil drilling company seeks to obtain evidence regarding the allegedly improper diversion of $8.4 million used to pay the firm.
The filing comes after years of litigation in which a former company director fought seizure of the company by bondholders after the company's bankruptcy triggered default of the bondholder agreements.

Global litigation firm Quinn Emanuel Urquhart & Sullivan stands accused of using $8 million in funds misappropriated from bondholders in a bankrupt oil company to sue them on behalf of its ousted director, according to a discovery request pending in Florida federal court.

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