Oil Co. Can Seek Damages From US For Lost Profits

Law360, New York (April 13, 2010, 7:32 PM EDT) -- The federal government has lost a bid to bar Nycal Offshore Development Corp. from pursuing damages, instead of restitution, for lost profits related to a number of offshore oil lease contracts the government breached.

Judge Eric G. Bruggink in the U.S. Court of Federal Claims on Friday denied the U.S.'s motion to limit Nycal to restitution and scheduled a trial for October.

“There is no prohibition on Nycal’s claim for lost profits,” he ruled. “Plaintiff can continue to assert its rights to damages for breach with...
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