Petefish Skiles & Co v. Meads-Maes USA Chiren Joint Venture Company

CourtDistrict Court, C.D. Illinois
DecidedSeptember 26, 2025
Docket3:24-cv-03250
StatusUnknown

This text of Petefish Skiles & Co v. Meads-Maes USA Chiren Joint Venture Company (Petefish Skiles & Co v. Meads-Maes USA Chiren Joint Venture Company) is published on Counsel Stack Legal Research, covering District Court, C.D. Illinois primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Petefish Skiles & Co v. Meads-Maes USA Chiren Joint Venture Company, (C.D. Ill. 2025).

Opinion

rndaay, 20 seplremper, 2UL9 □□ □□□□ Clerk, U.S. District Court, IL

IN THE UNITED STATES DISTRICT COURT FOR THE CENTRAL DISTRICT OF ILLINOIS SPRINGFIELD DIVISION PETEFISH, SKILES & CO., an Illinois ) Banking Association, ) Interpleader-Plaintiff, ) ) Vv. ) Case No. 24-cv-3250 ) MEADS-MAES USA CHIREN JOINT ) VENTURE COMPANY and UGS DRILLING ) CHIREN DZZD, ) Interpleader-Defendants. ) OPINION * COLLEEN R. LAWLESS, United States District Judge: Before the Court are Interpleader-Defendant Meads-Maes USA Chiren Joint Venture Company’s Motion to Stay Pending Arbitration (Doc. 8) and Interpleader- Defendant UGS Drilling Chiren DZZD’s Motion for Judgment on the Pleadings (Doc. 17). I. INTRODUCTION Plaintiff Petefish, Skiles & Co. (“Petefish”) is an Illinois Banking Association holding $7,000,000 in escrow for Defendant Meads-Maes USA Chiren Joint Venture Company (“Meads-Maes”) or Defendant UGS Drilling Chiren DZZD (“UGS”). (Doc. 1, J 1). The escrowed funds are part of an Advance Payment Bank Guarantee issued by Petefish in relation to a Bulgarian natural gas construction project that is a source of dispute between the two Defendants. (Id.) While UGS has demanded payment, Meads- Maes says UGS has acted in bad faith and is not entitled to payment. (Id.) In filing its Complaint for Interpleader, Petefish asks the Court to determine which Defendant is correct. (Id. at § 2). Page 1 of 9

II. FACTUAL BACKGROUND Petefish alleges UGS in 2023 was awarded a contract (“main contract”) to facilitate the Underground Gas Storage Expansion Project by a Bulgarian contracting authority, Bulgartransgaz EAD. (Id. at { 10). The main contract provided that UGS was to facilitate construction of above and below-ground gas storage facilities and gas transfer infrastructure located in Chiren, Bulgaria. (Id. at { 11). On or around November 24, 2023, the two Defendants entered into a Lump Sum Turn Key Integrated Project Management Contract (“subcontract”) wherein Meads-Maes and UGS would drill 13 underground gas storage wells (ten exploitation wells and three observational wells) and provide other ancillary services as part of the project. (Id. at J 12). Under section 18.9 of the subcontract, 30% of the total contract price, or $21,000,000, was to be paid as an advance payment to Meads-Maes. (Id. at | 13). A condition of the advance payment required that Meads-Maes provide an unconditional advance payment bank guarantee to UGS, to be procured through Petefish. Petefish was to effectively hold the advance payment in escrow on behalf of Defendants. (Id. at 14). The subcontract has a Governing Law and Dispute Resolution clause that requires Defendants to attempt to resolve any dispute arising under the agreement amicably and in good faith. If that does not occur, the subcontract requires Defendants to submit the dispute to the London Court of International Arbitration in London, England. (Id. at § 15). After the subcontract was executed, UGS made the advance payment to Petefish, Petefish issued the Unconditional Advance Payment Bank Guarantee to UGS and Meads-Maes began to perform its obligations under the subcontract. (Id. at J 16). Page 2 of 9

On or around November 27, 2023, Petefish issued an Advanced Payment Refund Guarantee Letter to Meads-Maes and UGS under section 18.9 of the subcontract and confirmed it had received the $21,000,000 advance payment from UGS. Under the original letter, UGS was the beneficiary of the guarantee. (Id. at { 17). The letter stated that any payments approved by UGS were to be made by Petefish to Meads-Maes and would reduce the advance payment being held by Petefish for the remaining period of the letter’s validity which was originally set to expire on April 30, 2024. (Id. at J 18). On or around June 10, 2024, Petefish issued a superseding Advance Payment Refund Guarantee Letter (“the guarantee”) to Meads-Maes and UGS. The guarantee reduced the Advanced Payment Refund Guarantee to $7,000,000 since payments had been approved by UGS and made to Meads-Maes for work under the subcontract. UGS remained the beneficiary of the guarantee. The guarantee provided for an expiration date of September 8, 2024. (Id. at { 19). Petefish stated in the guarantee that it “hereby issue[s] to [UGS’s] benefit this Guarantee . . . and irrevocably and unconditional[ly] undertake[s] to pay to you any amount (or, possibly, any portion thereof) up to and not to exceed US$’s 7,000,000.00 . . . with no objections on your first written demand signed by an authorized representative.” (Id. at J 20). On or around August 15, 2024, UGS submitted a demand to Petefish for the full payment of the guarantee amount. (Id. at § 21). The demand included a written statement outlining Meads-Maes’ breached the subcontract by failing to supply all goods and materials in conformity with the terms of the subcontract and by failing to perform the work in a due and timely manner. (Id. at { 22). The statement of breach alleged Meads- Page 3 of 9

Maes “has two major obligations under the [subcontract] that should have been fulfilled within strict deadlines prior to the beginning of the Drilling Works, and which have been secured through the Bank Guarantee,” including (1) the preparation of well designs and drilling program within 45 days after the technical specifications were approved by the employer under the subcontract, the term of which expired on February 7, 2024; and (2) delivery of all deliverables (materials and. equipment necessary for the wells) in accordance with approved technical specifications and well designs/ drilling program accompanied by applicable documents and certifications proving their fitness for use. (Id. at { 23). The demand included six letters written by UGS or Hill International that had been sent to Meads-Maes between June 5 and August 1, 2024. (Id. at § 24). Petefish notified Meads-Maes of UGS’s demand and provided UGS a copy of the demand on or around August 20, 2024. (Id. at § 25). In that correspondence, Petefish stated UGS had provided “all necessary documenit[s] to identify the breach or failure to observe the terms of the [subcontract]” pursuant to the guarantee and explained that it would “be forwarding the []$7,000,000 at the close of business on August 21, 2024” unless Petefish received confirmation that the demand was rescinded or the breaches were cured. (Id. at {| 26). In a letter to Petefish dated August 23, 2024, Meads-Maes disputed breaching the subcontract and explained its position that UGS’s demand did not include documentation sufficient to establish any breach. (Id. at § 28). Meads-Maes provided further documentation to Petefish in support of its’ position and requested that Petefish not issue any payment to UGS until the close of business on September 5, 2024, so that Defendants could attempt a resolution. (Id. at J 29). Defendants did not reach a resolution Page 4 of 9

and asserted conflicting claims to the guarantee funds. (Id. at J 30). Petefish filed this action to determine which Defendant, if any, is entitled to the guarantee funds, which are held in escrow by Petefish. (Id. at § 31-33). Ill. DISCUSSION A. Motion for Judgment on the Pleadings UGS moves for judgment on the pleadings under Rule 12(c) of the Federal Rules of Civil Procedure. Rule 12(c) states, “After the pleadings are closed—but early enough not to delay trial—a party may move for judgment on the pleadings.” Fed. R. Civ. P. 12(c). A Rule 12(c) motion may be used “to dispose of the case on the basis of the underlying substantive merits.” Wolf v. Riverport Ins. Co., 132 F.4th 515, 518 (7th Cir. 2025).

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Bluebook (online)
Petefish Skiles & Co v. Meads-Maes USA Chiren Joint Venture Company, Counsel Stack Legal Research, https://law.counselstack.com/opinion/petefish-skiles-co-v-meads-maes-usa-chiren-joint-venture-company-ilcd-2025.