Phillips v. Carlton Energy Group, LLC (Opinion)
Annotate this CasePlaintiff and the main defendant (Defendant) both wanted an interest in a coalbed methane exploration prospect in Bulgaria. Plaintiff sued Defendant, alleging that Defendant obtained his interest by tortiously interfering with the owner’s contract to convey an interest to Plaintiff. Plaintiff claimed damages for the loss of its interest in the project. A jury found in favor of Plaintiff and awarded $66.5 million in actual damages. The trial court reduced the damages to $31.16 million. The court of appeals reversed in part and rendered judgment on the verdict, awarding Plaintiff the $66.5 million actual damages found by the jury, as well as exemplary damages. On appeal, Defendant argued that the evidence of the fair market value of Plaintiff’s lost interest was too speculative to support the jury’s award of damages. The Supreme Court reversed in part, holding that, under the rule that lost profits cannot be recovered as damages unless proven to a reasonable certainty, Plaintiff was not permitted to recover all of the damages found by the jury.
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