Financial Ports

Cotemar demands $59m from ABS in New York court showdown

CLAVE 1 / 4Mexican offshore contractor Cotemar has filed legal action in New York to enforce a $34.8m judgment against ABSG Consulting.

CLAVE 2 / 4The total claim, including interest under Mexican and New York law, amounts to $59.4m—the largest offshore payment dispute in the Gulf this year.

CLAVE 3 / 4A Mexico City court ruled in Cotemar’s favour in March 2022, with an appellate court upholding the decision in June 2023.

CLAVE 4 / 4ABS and its subsidiary ABSG Consulting have yet to issue a public response to the legal proceedings.

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