The protracted financial dispute between the Mexican maritime services company Cotemar and ABSG Consulting (ABSG), a subsidiary of the American Bureau of Shipping (ABS), has escalated further. To recover $59.4 million in outstanding payments from ABSG (including engineering fees and accrued interest), Cotemar has filed a lawsuit in the New York State Supreme Court, requesting that the court freeze approximately $60 million in ABSG assets.
After years of litigation in Mexico, ABSG refused to pay for more than eight years. In August 2026, Cotemar sued ABSG. It seeks $34.8 million in unpaid engineering fees plus interest. The total claim is $59.4 million. Cotemar is now seeking to freeze assets. First, it fears ABSG may be unable to pay once the case is decided. Second, it wants to preserve a Mexican court judgment already in effect. That judgment covers the $59.4 million. The goal is to protect the money before ABSG moves or restructures its assets.
This dispute dates back to 2017, when ABSG subcontracted a significant portion of the logistical support services for the transportation and installation of a modular drilling platform in the Gulf of Mexico to Cotemar, which was responsible for providing equipment and personnel. As of March 2018, Cotemar had fulfilled all of its contractual obligations, and ABSG had issued a signed certificate confirming that the work met all contractual standards and had been fully completed.
However, after receiving payment from the project’s general contractor, ABSG consistently failed to pay Cotemar for its work, forcing the latter to file a lawsuit. Following a comprehensive review of the case, a Mexican court issued a clear ruling in March 2022, ordering ABSG to pay Cotemar for the work performed. ABSG subsequently appealed the ruling. In June 2023, the Mexican Court of Appeals dismissed all grounds for appeal, ruling that the appeal was “baseless and invalid,” and upheld the original judgment.
Given that ABSG has repeatedly failed to make timely payments or provide the required security deposits within Mexican jurisdiction over the past eight years, Cotemar is now requesting that the court freeze ABSG’s assets while its lawsuit seeking recovery of the $59.4 million in outstanding debt remains pending.
In addition to requesting a freeze of up to $59.4 million (including principal and accrued interest), Cotemar’s legal team also filed a motion with the New York court seeking two other key injunctive reliefs. First, they sought a temporary restraining order (TRO) to prohibit third-party garnishees from transferring or concealing ABSG’s assets; second, they requested that the court order ABSG to provide a clear and detailed list of its assets and liabilities while the court considers the garnishment application and post-garnishment disclosure matters, so that the final judgment can be enforced smoothly.
It is reported that Cotemar’s operations have continued uninterrupted throughout this litigation. The company recently deployed two offshore support vessels in Campeche Bay to support key offshore construction, operations, maintenance, and engineering projects in the Gulf of Mexico.