Client Alert: English Contract Law Update: Operator Employee Pension Deficits – Who Picks Up the Bill Under the JOA?

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March 13, 2019
The recent English Court of Appeal decision in Spirit Energy Resources Limited (formerly named Centrica Resources Limited) v Marathon Oil U.K. LLC [2019] EWCA Civ 11 addresses the intriguing question of liability for payments to eliminate a pension fund deficit for Operator employees engaged in Joint Operating Agreement (JOA) activities.  In this Client Alert, we examine this case in detail and consider potential learnings for upstream joint venture participants.