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Pricaspian Denied Again Over Shell Oil Profits

Law360 (June 5, 2009, 12:00 AM EDT) -- Pricaspian Development Corp. has again fallen short in its effort to collect profits from Royal Dutch Shell PLC over oil exploration in Kazakhstan, with a district judge tossing its most recent lawsuit for stating essentially the same claims as an earlier, unsuccessful suit.

Judge Denise Cote of the U.S. District Court for the Southern District of New York on Wednesday dismissed the suit, ruling that Pricaspian's claims were barred by the borrowing statute and the doctrine of claim preclusion, in light of a 2006 ruling by...
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