BP

News & Analysis as of

Court in the BP p.l.c. Securities Litigation Upholds Opt-Out Procedures But Then Allows Individual Action Plaintiffs to Opt Back...

On November 4, 2016, Judge Keith Ellison of the United States District Court for the Southern District of Texas granted preliminary approval of a $175 million settlement in the federal securities class action In re: BP p.l.c....more

New barriers to foreign investment in UK strategic infrastructure

Following the government's recent decision to proceed with the Hinkley Point C nuclear power station project (Hinkley Point), ministers are planning a new legal framework for future foreign investment in Britain's critical...more

Employee Benefits Developments - October 2016

The Employee Benefits practice group is pleased to present the Benefits Developments Newsletter for the month of October, 2016. 2017 Benefits Limits Announced - The Internal Revenue Service and Social Security...more

Dutch Collective Actions vs. Collective Settlements

As U.S. law has become less willing to entertain certain types of lawsuits on behalf of worldwide classes of plaintiffs, litigants have looked for other forums that might allow the prosecution – or at least the resolution –...more

Texas Supreme Court Agrees to Review Three Oil and Gas Cases in 2016

On September 2, 2016, the Texas Supreme Court agreed to review three oil and gas cases involving issues pertinent to the industry and land and mineral owners. 1. BP America Production Company v. Red Deer Resources,...more

Texas Supreme Court to Hear Case on “Capability of Production” Under Shut-In Clause

On Sept. 2, the Texas Supreme Court granted review in a case that may clarify when a shut-in well’s capacity for production in paying quantities is determined. In BP America Production Company v. Red Deer Resources, LLC, No....more

Alabama Legislature Signals Reexamination of Tax Incentives and Exemptions: State and Local Tax Alert: Alabama Edition

Following a contentious special session in which multiple proposals for a state-wide lottery were debated then abandoned, the Alabama Legislature adjourned on September 7 after approving an approximate $640 million bond issue...more

Court of Appeal Lifts Stay in Cross Border Class Action

In Kaynes v. BP [1] (referred to herein as “Kaynes”) the Court of Appeal for Ontario (“ONCA”) recently lifted a stay of a class proceeding in which the Plaintiff is seeking damages for alleged misrepresentations made to...more

BP Case Reflects FERC’s Broad View of its Jurisdiction

On July 11, 2016, the Federal Energy Regulatory Commission (FERC or “Commission”) issued an order affirming an Administrative Law Judge’s (ALJ) Initial Decision finding that BP America (“BP”) and certain affiliated entities...more

Court Has Inherent Authority to Supervise CSSP, Including Sanctioning Attorneys for Ethical Violations and Misconduct

On June 2, 2016, the U.S. Court of Appeals for the Fifth Circuit addressed another matter of alleged attorney misconduct in a Deepwater Horizon claims case and the District Court’s authority to impose sanctions for...more

Louisiana First Circuit Finds Appellate Jurisdiction Lacking, Declines to Address Merits of Appeal Involving Claims Related to...

Louisiana First Circuit Court of Appeal again finds that it lacked jurisdiction over an appeal taken from a partial judgment that was not designated as final pursuant to Article 1915(B) of the Louisiana Code of Civil...more

May the Fourth Be With You – The Norwegian Sovereign Wealth Fund Awakens to Good Corporate Governance

May 4th is universally recognized (at least in the universe I inhabit) as Star Wars Day. According to Wikipedia, “May 4 is called Star Wars Day because of the popularity of a common pun spoken on this day. Since the phrase...more

BP, Executive Pay and the Surfin’ Bird

Surf music is certainly an under-rated rock and roll genre. One of my favorites is The Trashmen’s Surfin’ Bird. It reached Number 4 on the Billboard Chart in 1963. I happened to hear it recently when I was reading about some...more

Distressed Asset Acquisitions Outside Bankruptcy in the Oil and Gas Space

Amidst the current downturn in oil prices, many expect and hope for, an increase in merger and acquisition (M&A) activity in the coming months. Whereas past downturns created an opportunity for major acquisitions, such as...more

Article: Dismissal of Charges in the British-Petroleum (BP) Deepwater Horizon Indictment … or the Over-Criminalization of the BP...

On April 20, 2010, just before 10 p.m., the Deepwater Horizon drilling rig suddenly exploded in the Gulf of Mexico, 48 miles off the Louisiana coast. Tragically, eleven men on the vessel died. Oil ultimately flowed from the...more

Business Litigation Report - February 2016

Inter Partes Review Victory for Celgene - Quinn Emanuel recently won an inter partes review (“IPR”) of a patent covering the active ingredient in firm client Celgene Corporation’s (“Celgene”) blockbuster cancer therapy,...more

Court in BP Oil Spill Litigation Denies Standing for Special Purpose Entities Created Solely for Litigation

A January 4, 2016 opinion in the Southern District of Texas by Judge Keith Ellison (“Op.”) in the In re: BP p.l.c. Securities Litigation, MDL No. 4:10-md-2185, has taken up the issue of whether plaintiffs can properly assign...more

Passive Owner Fined Nearly $160MM for DWH Spill

One unanswered question from the Deepwater Horizon litigation was the Clean Water Act civil penalty liability that would be imposed – or not – on Anadarko Petroleum, a passive owner of a 24% interest in the BP lease. On...more

Deepwater Horizon Update: Fifth Circuit Rules in Favor of Cameron on Insurance Issues

The U.S. Court of Appeals for the Fifth Circuit recently issued an opinion ruling in favor of Cameron International Corporation and certifying a question to the Texas Supreme Court on issues arising out of an insurance...more

Mainbrace: October 2015, No. 4

As with the world economy, the shipping markets are currently experiencing a major bout of volatility. The wide range of matters we are handling in our maritime law practice certainly reflects the current swings the shipping...more

Compliance at the Tipping Point, Part III – The VW Emissions-Testing Scandal

I continue my series on why I believe that compliance is at the ‘Tipping Point’ with a discussion of the Volkswagen (VW) emissions-testing scandal and its effect on the greater compliance world. Myself and many other...more

BP has settled its Clean Water Act penalty claims, but important questions remain to be decided

The United States and BP lodged their proposed settlement of the remaining claims by the US in connection with the Deepwater Horizon explosion and spill with the US District Court today. Comments to the Justice Department are...more

U.S. Court Dismisses Foreign Residents’ Foreign-Law Claims Arising from Securities Purchased on U.S. Markets

Much ink has been spilled since the Supreme Court’s 2010 decision in Morrison v. National Australia Bank about the federal securities laws’ applicability to foreign transactions in foreign securities.  But what happens when...more

Initial Decision Finds that BP Manipulated 2008 Natural Gas Market in Texas

On August 13, 2015, a Federal Energy Regulatory Commission (“FERC” or “Commission”) Administrative Law Judge (“ALJ”) issued an initial decision in which she found that BP America Inc. et al. (“BP”) manipulated the natural...more

BP Case May Again Test Limits of FERC’s “In Connection With” Enforcement Jurisdiction

A Federal Energy Regulatory Commission (FERC) Administrative Law Judge last week issued an Initial Decision finding that BP America (BP) and certain related BP entities violated FERC’s Anti-Manipulation Rule. Following a...more

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