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Deepwater Horizon | SEONewsWire.net http://www.seonewswire.net Search Engine Optimized News for Business Fri, 15 Aug 2014 11:46:00 +0000 en-US hourly 1 https://wordpress.org/?v=6.0.8 Texas Company Sues BP, Alleging Breach of Contract http://www.seonewswire.net/2014/08/texas-company-sues-bp-alleging-breach-of-contract/ Fri, 15 Aug 2014 11:46:00 +0000 http://www.seonewswire.net/2014/08/texas-company-sues-bp-alleging-breach-of-contract/ Fluor Corp., an Irving, Texas-based engineering firm, has filed a lawsuit in Harris County district court against BP for millions of dollars, claiming breach of contract. The lawsuit claims that when a Fluor subsidiary agreed to help the oil giant

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Fluor Corp., an Irving, Texas-based engineering firm, has filed a lawsuit in Harris County district court against BP for millions of dollars, claiming breach of contract.

The lawsuit claims that when a Fluor subsidiary agreed to help the oil giant clean up pollution in the Gulf of Mexico in 2010, BP agreed to protect it against legal expenses. Now, several lawsuits and claims related to the Deepwater Horizon spill have been filed against Plant Performance Services (at that time, Fluor’s logistics and personnel support subsidiary), but BP has refused to compensate the company for its legal expenses, according to the lawsuit.

Plant Performance Services was sold to Fuel Streamers Group in June 2011.

Many of the lawsuits against Plant Performance Services were filed by beach cleanup workers who said that they were exposed to hazardous materials and that the company misrepresented how long the work was expected to last. Fluor claims the contract with BP began on May 5, 2010, but beach cleanup work was canceled before workers expected to be let go.

In the lawsuit, Fluor claimed that it has already paid $2.1 million in claims and is seeking compensation from BP for past, present and future claims.

BP has spent over $14 billion on the Gulf Coast cleanup and is expected to face $18 billion in fines.

Gregory D. Jordan is an Austin Oil and Gas attorney. To learn more, visit http://www.theaustintriallawyer.com or call 512-419-0684.

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Lawsuit Filed Against ATP Oil & Gas Executives Over Royalty Interests http://www.seonewswire.net/2013/07/lawsuit-filed-against-atp-oil-gas-executives-over-royalty-interests/ Wed, 24 Jul 2013 11:46:30 +0000 http://www.seonewswire.net/2013/07/lawsuit-filed-against-atp-oil-gas-executives-over-royalty-interests/ Executives of the now-defunct ATP Oil & Gas Corp. have been sued by Macquarie Investments LLC, based in Sydney, Australia. According to the lawsuit, ATP executives misrepresented royalty interests in a $110 million sale. The lawsuit, filed in U.S. District

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Executives of the now-defunct ATP Oil & Gas Corp. have been sued by Macquarie Investments LLC, based in Sydney, Australia. According to the lawsuit, ATP executives misrepresented royalty interests in a $110 million sale. The lawsuit, filed in U.S. District Court for the Southern District of Texas, claims that the sale of royalty interests was a “disguised” loan.

Macquarie claims to have been injured by intentional misrepresentation and fraudulent inducement on the part of ATP management. The lawsuit alleges that ATP executives conspired with the company’s law firms to misrepresent the royalty interests, producing false and misleading legal opinions regarding the nature of the sale. According to the complaint, when ATP later filed for bankruptcy, the management team caused ATP to take the position that the sale was a disguised loan. ATP is now bankrupt and was auctioned off to lenders in May.

Macquarie has demanded a jury trial and is seeking $32 million in damages in the suit.

Houston-based ATP filed for bankruptcy in 2010, blaming the Deepwater Horizon oil spill and the drilling moratorium in the Gulf of Mexico that followed. ATP executives are facing another suit by shareholders who claim that the company misrepresented the effects that the moratorium had had on revenue prior to a sale of Senior Second Lien Exchange Notes in December 2010.

Gregory D. Jordan is an Oil and Gas lawyer in Austin. To learn more, visit http://www.theaustintriallawyer.com or call 512-419-0684.

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