Court orders Petrobras to keep SBM payments

RIO DE JANEIRO, July 5, 2018 – A federal court in Rio de Janeiro has ordered Petrobras to withhold payments to SBM Offshore while it awaits the outcome of a corruption case involving the Dutch marine services company, international media reported Thursday.

The deductions, which have yet to be determined, will come from monthly payments Petrobras makes to SBM under current charter contracts.

“The company strongly disagrees with the interim decision, is seeking further clarification and is taking all appropriate measures to defend its interests,” SBM said in a Thursday press statement responding to the court ruling.

Brazil’s federal prosecutor last December filed a lawsuit against SBM, alleging corruption. According to the company’s statement, “the decision references the fact that SBM Offshore is headquartered overseas and that recovery from the company of any damages may depend on international legal co-operation and (un)availability of assets in the future.”

In 2016, SBM paid USD 280 million in Brazil related to a bribery case. The company has also paid USD 238 million in the USA and USD 240 million in the Netherlands to settle similar charges.

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