Looks Like Quicksilver Believes They were STiffed by BretiBurn Energy PartnersSomervell County Salon-Glen Rose, Rainbow, Nemo, Glass....Texas


 

Looks Like Quicksilver Believes They were STiffed by BretiBurn Energy Partners
 


31 October 2008 at 5:30:59 PM
salon

Quicksilver filed a lawsuit in Tarrant County against Breitburn. As I read it, looks like after Quicksilver signed a deal in 2007 with Breitburn, based on elieveing that another company, Provident, was integral to Breitburn's strategy. BUT then those 2 companies decided that Provident was going to liquidate its interest in Breitburn, and Breitburn turned around in June 2008 and purchased Provident, enriching themselves, but apparently stiffing Quicksilver, including locking them out of a vote about it. Should be interesting.

What I don't get is how Breitburn could amend the partnership agreement to stiff Quicksilver without, um, agreement with Quicksilver. It's a contract, right? But that must be part of why Quicksilver is suing.


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