BP, Statoil Triumph Over Tycoon's $175M RICO Claims

Law360, San Francisco (June 7, 2013, 7:00 PM EDT) -- BP PLC and Statoil ASA on Friday defeated oil tycoon Jack Grynberg's claims that they violated federal racketeering law by paying a $175 million bribe to the Kazakhstan government following an oil-field deal, when the Fifth Circuit upheld a ruling that the claims had been dismissed in arbitration.

The appeals court sided with a Texas federal court's ruling that Grynberg couldn't litigate his claims that the petroleum firms' Kazakh payment constituted a bribe in violation of the Racketeer Influenced and Corrupt Organizations Act after those claims...
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