Successfully opposed plaintiffs' certiorari petition to Colorado Supreme Court, eliminating $750 million exposure to BP.
The Colorado Supreme Court, agreeing with BP’s opposition, denied a plaintiff class’s petition for certiorari on their $750,000,000 moratory interest claim relating to a certified class action alleging unpaid royalties to 4,000 claimants. The trial court had granted BP’s motion for summary judgment on the issue of moratory interest, which the Court of Appeals affirmed. The Supreme Court’s denial of certiorari leaves in place the Court of Appeals ruling in favor of BP on the issue of moratory interest, thus eliminating the considerable exposure.
BP also petitioned for certiorari relating to the jury verdict against the company on other claims and subsequent post-judgment interest award of 8% on the $7.9 million verdict against BP. That petition was also denied.