BreitBurn Energy Partners L.P. (BBEP) said Monday that, with regard to the lawsuit filed by Quicksilver Resources Inc. (KWK) against the Partnership, the trial court in Fort Worth, Texas, issued an order on Friday which declined to enter a mandatory injunction requested by Quicksilver requiring that an annual meeting be held by March 23, but granted a temporary injunction "enjoining BreitBurn LP and BreitBurn GP from giving effect to the 'Revised Amendment No. 1 to the First Amended and Restated Agreement of Limited Partnership of BreitBurn Energy Partners L.P. purportedly adopted by BreitBurn GP's Board of Directors on December 29.
BreitBurn said the order has no immediate effect on the Partnership since no specific actions under the Revised Amendment are planned.
The temporary injunction also enjoins the Partnership "from adopting or proposing any amendment to the Partnership Agreement without leave of court." This will require the Partnership to seek leave of Court to implement the Partnership's previously announced intention to propose amendments to the voting rights process of the Partnership Agreement with the goal of providing meaningful voting rights to all limited partners in the election of directors.
The trial court set a hearing on Quicksilver's motion for permanent injunction on issues concerning voting rights of the limited partners on March 1.
BreitBurn said it plans to continue to vigorously pursue its right to determine and implement a plan of meaningful voting rights for limited partners with respect to the election of directors. The Partnership said it will move for reconsideration of what it believes to be erroneous rulings and will seek to obtain relief on appeal if necessary.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.