Energy industry lawsuit involves $258 million in contracts for oil & gas rig leases
Kim Law Firm
, and his representation of industrial salvage company PRC Environmental Inc. in legal claims against several companies for interfering with offshore oil rig leasing deals worth $258 million.
Mr. Kim is featured in the Dec. 12, 2012, Law360 article “Salvage Co. Says Diamond Killed $258M Rig Leasing Venture.”
The Law360 story details PRC’s federal lawsuit against Diamond Offshore Drilling Inc., which includes allegations that Diamond Offshore made false claims about an offshore oil rig known as the Ocean Prospector. Diamond Offshore previously owned the Ocean Prospector rig, which is now part of a PRC refurbishing joint venture. The lawsuit says Diamond Offshore incorrectly stated “the rig could only legally be sold for scrap and could not be put back into service.”
The federal lawsuit filed in Galveston, Texas, states this interference caused PRC to suspend its rig refurbishment project, resulting in a loss of at least $258 million in expected profits.
Law360 reported that Mr. Kim also filed a lawsuit on behalf of PRC against Intrepid Ship Management Inc., Vessel Management Services Inc. and Crowley Maritime
Corp., alleging the companies’ negligence caused a ship to collide with the Ocean Prospector, resulting in substantial structural damage. In this second suit, PRC also seeks the $258 million in expected profits.
Mr. Kim is working with Denise H. Mitchell of The Kim Law Firm and Francis Spagnoletti of Spagnoletti & Co. on the PRC cases.
The cases filed in the U.S. District Court for the Southern District of Texas, Galveston Division, are PRC Environmental Inc. v. Diamond Offshore Drilling Inc., No. 3:12-cv-00360, and PRC Environmental Inc. v. The Resolve, et al., No. 3:12-cv-00359.
A veteran of numerous courtroom trials, Mr. Kim is a member of the American Board of Trial Advocates (ABOTA), and serves as the current president of the group’s
Houston chapter. He has earned selection to the Texas Super Lawyers list all 10 years since the list was first published in 2003
The Kim Law Firm has recovered more than half a billion dollars for clients through aggressive litigation. The firm represents entrepreneurs, business start-ups, mid-sized companies, and established national and international corporations in everything from contract and complex business disputes to insider trading allegations, trade secrets and other intellectual property disputes. Mr. Kim and his firm represent plaintiffs and defendants nationwide in oil & gas litigation, fraud, breach of fiduciary duty, securities litigation, claims of tortious interference, price fixing and other antitrust actions.