BP Wins $1.3M Judgment From Royalty Interest Claim
By Michael Phillis (April 28, 2020, 10:00 PM EDT) -- The Federal Claims court ruled Tuesday that the government owes BP America Production Co. more than $1.3 million for interest on oil and gas royalty overpayments, despite Congress yanking authorization for such interest payments.
U.S. Federal Claims Court Judge Thomas C. Wheeler said BP is still owed the money, even though the Fixing America's Surface Transportation Act removed authorization for interest payments on overpaid oil and gas royalties and eliminated the pool of money the government used to make the interest payments. Those provisions, however, were not retroactive and therefore the company was owed money that accrued before the change, Judge...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!