Texas High Court Spares Exxon $18M Jury Award

Law360, New York (March 30, 2009, 12:00 AM EDT) -- In two linked decisions, the Texas Supreme Court gave Exxon Mobil Corp. a big boost against owners and lessees of oil fields it formerly operated, reversing the appeals court’s support for an $18.7 million jury award to the landowners and nullifying Emerald Oil & Gas Co. LC's claims that Exxon is liable for sabotaging the wells.

Squarely ruling in Exxon's favor, the Texas high court found that the two-year statute of limitations blocked most of the royalty owners’ claims for damages related to Exxon's alleged sabotage...
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.