An appeals judge has tossed Phillips’s appeal of the $833 million judgment awarded to Propel Fuels.
Heh, Heh, Heh!!!
11 replies (most recent on top)
Let’s just call it what it is. The good guard of p66 legal, anyone here still from the old GC days have left. The ones that remain are the ones who couldn’t find employment elsewhere. The new ones are too green to prove value.
Add this to P66's legal headaches, a Louisiana appeals court upheld the $1 billion tax valuation for Phillips 66's Lake Charles Refinery, ruling against the company's attempt to use the lower sale price of a different refinery to reduce the value. The court found Phillips 66's evidence insufficient, as it did not provide enough information about the other refinery or evidence that the two were comparable enough to apply a significant depreciation factor.
No integrity in Legal and Compliance. Period. The inmates are running the asylum.
I'm torn between being happy for justice and being disappointed because I know that anyone actually responsible at p66 will never be held responsible, and it will just mean more BT pain for everyone else to pay for it.
@cq They are all part of the Stoney Island Pickle Ball Club.
@gm I read a memo they are now VP’s and therefore protected.
Easily winnable case that Legal sc--wed up. The lawyers that worked on this should be fired. Who wants to bet they will be promoted instead?
@cp Seriously. How do people in Legal LT (and DEI Queen) still have jobs?! Business people made bad facts -- settle the case. How the heck do you let this kind of verdict turn into such a mess ... and STILL HAVE YOUR JOBS??!!!
We’ve seen this movie before. Big company with zero ethics tries to run over the little guy then fights the battle with epically bad and pathetic lawyers. Nobody should be proud of this Company, especially since nobody will be held accountable in the business or in Legal. Nothing to see here except losing close to a $1B.
So… another round of layoffs continue? Gotta scratch back that cash somehow.
FAFO