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Liquidated Damages Oil & Gas

Akin Gump Strauss Hauer & Feld LLP

The Court of Appeal in England & Wales Curtails Use of Liquidated Damages for Delay

In international construction arbitration, the use of liquidated damages to address the consequences of failure by a contractor to finish the works by the date set for completion is widespread. Typically, the contractor...more

Jones Day

Bankruptcy Court Rules "Make-Whole" Provision Creates Enforceable Liquidated Damages

Jones Day on

The Situation: After a ruling in In re Ultra Petroleum Corp. by the U.S. Bankruptcy Court for the Southern District of Texas, certain private-placement noteholders are entitled to a "make-whole" premium in excess of $200...more

King & Spalding

Energy Newsletter - June 2016

King & Spalding on

Oil and Gas Unitization: Specific Considerations for Cross-Border Unitization - Setting the Scene - There are more than twenty bilateral unitization Treaties and Joint Development Agreements (JDAs) in place today...more

King & Spalding

Energy Newsletter - November 2014

King & Spalding on

In This Issue: - First AIPN Model Contract for Unconventional Resource Operations - A Cautionary Tale: English Courts Further Depart from a Traditional Approach to Liquidated Damages in Unaoil v Leighton ...more

King & Spalding

A Cautionary Tale: English Courts Further Depart from a Traditional Approach to Liquidated Damages in Unaoil v Leighton

King & Spalding on

In September 2014, the Commercial Court handed down an unprecedented decision, finding that a liquidated damages ("LD") clause in a contract was a "genuine pre-estimate of loss" at the time the parties entered into the...more

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