Chesapeake Suit Over $1.75B BP Deal Stays Put

Law360, New York (July 26, 2010, 6:01 PM EDT) -- Chesapeake Exploration LLC has failed to return a case against BP America Production Co. to the state court, where it sued BP following disagreements arising from BP's $1.75 billion acquisition of oil and gas wells in eastern Oklahoma.

Judge Joe Heaton of the U.S. District Court for the Western District of Oklahoma rejected Chesapeake’s bid to remand the lawsuit over an arbitration panel’s handling of a multimillion-dollar post-closing dispute, holding that the two arbitrators’ Oklahoma citizenship is no impediment to moving the case to federal court....
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