On Wednesday 29 April the Outer House of the Court of Session in Edinburgh issued an opinion sanctioning two schemes of arrangement proposed by Premier Oil Plc and Premier Oil UK Limited (together, Premier Oil) (the Schemes). The Court addressed multiple grounds of challenge and did so without hearing live evidence, despite disputes of fact between the parties.
European Union, United Kingdom, Energy & Natural Resources, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP
Although the Supreme Court identified three guideposts for evaluating whether a punitive award is unconstitutionally excessive 23 years ago in BMW v. Gore and refined those guideposts 16 years ago in State Farm v.
Baker Botts L.L.P. v. ASARCO LLC, No. 14-103 (previously described in the October 2, 2014, Docket Report)