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Indeed, the Court did not overrule, or even question, its decision in TXO, where it upheld a punitive damages award that was 526 times greater than the actual damages awarded by the jury.
1, 7 & n.2 (1991), which involved a 4-to-1 ratio, and TXO Production Corp.
The target inked a heads of agreement today to buy a 50% farm-in interest in certain Alberta Crown Leases on assets in the Athabasca Oil sands in Alberta, Canada, TXO noted.
(69) In TXO, the Court added that the Due Process Clause does not require trial judges to articulate the basis for its denial of a motion for judgment notwithstanding the verdict or a remittitur.
In TXO, the defendant advocated for a bright-line test under which a punitive award would be unconstitutional if it exceeded the award of compensatory damages by a specific multiplier to be established by the Court.
British investment firm TXO Plc (LON:TXO) said it is participating in the creation of a joint venture to conduct onshore exploration activities in Tasmania with an initial holding of 25%.
In addition to being confusing, TXO offers little guidance for defense counsel regarding the limits that are to be placed on punitive damages.
24 September 2012 - British investment firm TXO Plc (LON:TXO) said today it is participating in the creation of a joint venture to conduct onshore exploration activities in Tasmania with an initial holding of 25%.
Even in a "standard" bad faith case, the pattern and practice language from TXO virtually mandates that a plaintiff be permitted to discover other instances of similar wrongful conduct.
The West Virginia court then applied the "reasonable relationship" test to the facts, which required it to consider "(1) the potential harm that TXO's actions could have caused, (2) the maliciousness of TXO's actions and (3) the penalty necessary to discourage TXO from undertaking such endeavors in the future." Finding TXO's actions intentional and fraudulent with a potential to have caused millions of dollars of damage to others, the court held that the award was well founded.
Through this investment, TXO aims to further help GBG with the development plans for the port facility at Freeport, a free trade zone off the coast of Florida with a strategic location for ships on transatlantic crossings and those going to the Panama Canal, together with Caribbean and US Eastern Seaboard trade.
When the Supreme Court granted certiorari in 1992 in the West Virginia case of TXO Production Corp.
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- Txori-Herri Medical Association