article 5 - insurance and other companies doing business in...

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Tyler Evans Heather Stone ECO231 22 February 2007 Exxon Joins Brief Arguing that CEOs Should Be Protected From Depositions Exxon Mobil Corp. joined a brief opposing the forced deposition of oil company CEOs, in particular, John Browne of BP. Exxon Mobil was the only company whose name was printed in the brief but they joined several organizations that represent the refining and chemical sectors such as the Texas Oil and Gas Association. This brief was filed with the Texas Supreme Court. Signers of the brief claim “to depose outgoing BP CEO John Browne for a gross negligence case against BP would result in an ‘onslaught’ of depositions of the executive. A spokesperson for Exxon Mobil says that they handle thousands of claims a year and their issue is that “Texas jurisprudence is clear” in regards to when an executive can be deposed. The brief also says that allowing Browne to be deposed would set an “alarming precedent” and would put a large burden on energy, petrochemical, financial services,
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Unformatted text preview: insurance and other companies doing business in Texas and also believe the deposition ruling will have a bed effect upon the economy of Texas. The plaintiffs lawyers said there is a steering committee that would ensure Browne being deposed only once. Browne, who will step down in July, is scheduled to be deposed Friday, but BP appealed a ruling that would allow Browne to be questioned. This deposition is only part of an ongoing trial that stemmed from a case of gross negligence in a March 23, 2005 fire that killed 15 and injured 170. Lead counsel Brent Coon of Beaumont, Texas argued that Browne has pushed himself into his own deposition by continuing to allow interviews to the press. Coon believes that since Browne will step down soon, the deposition would have no effect on BPs business practices. Coon was quoted saying We have deposed all of the people underneath him, and shown a continuing reason to depose Lord Browne....
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This note was uploaded on 04/29/2008 for the course ECON 231 taught by Professor Stone during the Spring '07 term at Jefferson Davis Community College.

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article 5 - insurance and other companies doing business in...

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