Judge’s ruling keeps $1 billion Carlton Energy Group lawsuit from forced arbitration
Posted on Friday, September 19th, 2014 at 9:53 am
Several attorneys from Williams Hart are part of a team representing Carlton Energy Group LLC as they pursue $1 billion in unpaid African oil field profits.
Carlton Energy Group LLC claims the right to 10 percent of the profits earned for its stakes in a Cliveden Petroleum Co. LTD venture that began in 2000. Cliveden’s exploratory probe into the oil and gas resources of the Republic of Chad yielded highly profitable and unexpected results.
Some reports state that, upon finding out the field was worth billions, China National Petroleum Corp. (CNPC) moved to buy out Cliveden and dissolve all former partnerships. As a result, Carlton has yet to be paid.
After the initial suit against Cliveden was moved to federal court, Carlton successfully petitioned to add CNPC and other affiliated companies to the list of defendants named in the lawsuit. Cliveden petitioned to move quickly into arbitration, but a Texas Federal Judge recently ruled on the side of the plaintiff and agreed that “there is sufficient proof that [these newly named companies] should be added to the list of defendants” and as such, “the court cannot force arbitration.”