Hunt Oil Wins Reversal Of $5.3M Contract Judgment

Law360, New York (October 21, 2009, 3:42 PM EDT) -- A Texas appeals court has reversed a nearly $5.3 million ruling for Live Oak Energy Inc. in a breach of contract suit against Hunt Oil Co. over drilling activities that allegedly rendered a petroleum deposit inaccessible, finding that Live Oak’s claims were time-barred.

The Court of Appeals for the Fifth District of Texas issued the ruling on Monday asserting that Live Oak had waited too long to file claims over the northwest Louisiana deposit, overturning an award of $925,000 for incidental damages and $4.3 million for...
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