Texas Court Urged To Nix $100M Suit Over Failed Energy Deal

Law360, Houston (September 18, 2013, 9:54 PM EDT) -- A Canadian oil and gas company urged a Texas appeals court on Wednesday to release it from a $100 million suit launched by a rival it had beat out in a bidding war for a Nabors Industries Inc. subsidiary, saying it cannot be sued in the state.

Parex Resources Inc. told the Fourteenth District Court of Appeals that after it emerged the victor in a bidding war to acquire Ramshorn International Ltd. from Nabors, ERG Resources LLC sued it and Bermuda-based Ramshorn in Texas, even though...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.