Norex's $500M Suit Against BP Untimely: NY Appeals Court

Law360, Los Angeles (April 25, 2013, 5:31 PM EDT) -- Citing the statute of limitations, a New York state appellate court on Thursday affirmed the dismissal of a complaint brought by Norex Petroleum Ltd. against Russian billionaires, BP PLC and others alleging they plotted to steal Norex’s $500 million stake in a Russian oil company.

The decision comes less than a month after Norex argued that a state court judge misapplied federal and state statutes of limitations when she dismissed Norex’s complaint last year. Norex said the claims were timely because they’d been filed in state...
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