Exxon Mobil Corp. won reinstatement of a $71 million jury award in an indemnity dispute over contamination settlements it paid in two Louisiana lawsuits, with a ruling by a Texas appeals court Thursday.
The trial court erroneously awarded Exxon less than what it paid in one of the settlements, contrary to what the jury decided—determining that Exxon’s settlement costs were reasonable. Exxon was able to prove that the settlement was made in good faith and “prudent under the circumstances,” the Texas Appeals Court, Fourteenth District said.
The company sold Bryan Wagner and Duer Wagner some 120,0000 acres of Louisiana mineral ...
https://news.bloomberglaw.com/environment-and-energy/exxon-mobil-wins-reinstatement-of-71-million-indemnity-award
2022-09-01 20:15:50Z
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