HERMOSA BEACH, Calif., July 10 /PRNewswire/ -- Macpherson Oil Company is pleased that the California Supreme Court denied the Petition for Review filed on behalf of the City of Hermosa Beach. The City's petition sought review of the trial court decision that the City breached its oil and gas lease with Macpherson and is liable for the payment of money damages in an amount to be determined in a subsequent jury trial. "While this result was not unexpected, it removes the last of several obstacles the City has attempted to place in Macpherson's way to prevent or delay the trial on the amount of damages the City now owes to Macpherson," said Jim Bright of Bright and Brown an Attorney for Macpherson Oil Company. This all follows as a natural result of the City's decision to breach the oil lease.

Macpherson expects to prove damages in an amount that will be well in excess of $500 Million. Macpherson has made a number of settlement proposals to the City during the last ten years, including several in the last eight months. All of these Macpherson settlement proposals have represented a very tiny fraction of Macpherson's actual damages, and all of them have been at a level that is many tens of millions of dollars less than any amount that could conceivably place the City in bankruptcy. To date, the City has shown no interest at all in settling this lawsuit unless Macpherson is willing to accept a small nuisance-value settlement, something around 1/2 of 1% of Macpherson's actual damages. Macpherson has concluded that the City Attorney and City management prefer to risk everything by proceeding with the lawsuit to the bitter end. The City obviously hopes for a final result where the City pays less than it would through a negotiated settlement, and apparently is prepared to accept the consequences if the final result is many multiples larger than any of Macpherson's settlement proposals and forces the City into bankruptcy.

Based on this settlement history, Macpherson believes there will be no justice unless and until this lawsuit proceeds through trial and appeal, and is eager to schedule the trial on damages. The Supreme Court's denial of the City's petition clears the way for this to happen. The issues have been narrowed by a number of earlier court rulings, which means that the end of this epic litigation saga is drawing near.

     Contact:  James S. Bright
               Bright and Brown
               +1-818-243-2121
               jbright@brightandbrown.com

SOURCE Bright and Brown