|
Quotes & Info
|
| BBEP > SEC Filings for BBEP > Form 8-K on 3-Nov-2008 | All Recent SEC Filings |
3-Nov-2008
Regulation FD Disclosure, Other Events, Financial Statements and E
On November 3, 2008, BreitBurn Energy Partner L.P. ("BreitBurn") issued a press release announcing that it intends to vigorously defend itself against the allegations of a lawsuit reportedly filed against it by Quicksilver Resources Inc. ("Quicksilver").
A copy of the press release is furnished and attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
In accordance with General Instruction B.2 of Form 8-K, the information set forth in this Item 7.01 and in Exhibit 99.1 shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, unless the Partnership specifically states that the information is to be considered "filed" under the Exchange Act or incorporates it by reference into a filing under the Exchange Act or the Securities Act of 1933, as amended.
On Friday, October 31, 2008, BreitBurn received notice by facsimile from Quicksilver of a lawsuit naming BreitBurn as a defendant along with BreitBurn GP, LLC, BreitBurn Operating GP, LLC, Randall H. Breitenbach, Halbert S. Washburn, Gregory J. Moroney, Charles S. Weiss, Randall J. Findlay, Thomas W. Buchanan, Grant D. Billing, and Provident Energy Trust ("Provident"). In the Petition, Quicksilver asserts twelve different counts against the various defendants. The primary claims are as follows: Quicksilver alleges that BreitBurn Operating L.P. breached the Contribution Agreement with Quicksilver, dated September 11, 2007, based on allegations that BreitBurn made false and misleading statements relating to BreitBurn's relationship with Provident. Quicksilver also alleges common law and statutory fraud claims against all of the defendants by contending that the defendants made false and misleading statements to induce Quicksilver to acquire units in BreitBurn. Finally, Quicksilver alleges claims for breach of the First Amended and Restated Agreement of Limited Partnership of BreitBurn Energy Partners L.P., dated as of October 10, 2006 ("Partnership Agreement"), and other common law claims relating to certain transactions and an amendment to the Partnership Agreement that occurred in June 2008. Quicksilver seeks a temporary and permanent injunction, a declaratory judgment relating primarily to the interpretation of the Partnership Agreement and the voting rights in that agreement, indemnification, punitive or exemplary damages, avoidance of BreitBurn GP, LLC's assignment to BreitBurn all of its economic interest in BreitBurn, attorneys' fees and costs, pre- and post-judgment interest, and monetary damages. BreitBurn understands that Quicksilver filed this lawsuit on Friday, in Tarrant County District Court.
BreitBurn intends to defend itself vigorously in connection with the allegations in the Petition. Because this lawsuit is at an early stage, we cannot predict the manner and timing of the resolution of the lawsuit or its outcome, or estimate a range of possible losses, if any, that could result in the event of an adverse verdict in the lawsuit.
(d) Exhibits.
99.1 Press Release of BreitBurn Energy Partners L.P. dated November 3, 2008
|
|