We served as lead counsel in a major arbitration brought by a multinational petroleum giant against our client, an Oklahoma-based exploration and production company.
The case started as an expert determination to be resolved within 20 days from initiation, where $90 million in liability had already been admitted. Arguing against litigators from one of the nation’s largest trial firms, we were able to obtain a $20 million reduction in liability by arguing offsets arising from a separate and related contract and to require compensation for our client’s deliveries during a time period not contemplated by the contract.
Arguing against litigators from one of the nation’s largest trial firms, we were able to obtain a $20 million reduction in liability.
We then engaged in a protracted dispute concerning vacatur of the expert determination, ultimately avoiding recognition and enforcement of the award and enabling our client to settle on favorable terms almost a year after the expert determination procedure began.