Bear Peak Resources, LLC v. Peak Powder River Resources, LLC

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The Supreme Court affirmed in part and reversed in part the district court’s grant of summary judgment in favor of Peak Powder River Resources, LLC (Peak) and against Bear Peak Resources, LLC (Bear) in this action alleging breach of contract, among other claims. Bear and Peak had agreed to work together in acquiring mineral interests for development, but Peak later obtained some mineral interests without compensating Bear and terminated the parties’ agreement. Bear filed suit. The district court determined that Peak was entitled to summary judgment on all of Bear’s claims. The Supreme Court reversed in part, holding that the district court (1) properly granted Peak’s motion for summary judgment on Bear’s breach of the implied covenant, breach of fiduciary duty, and accounting claims; (2) properly concluded that the parties’ contract was unambiguous; and (3) did not err in determining that Peak was entitled to summary judgment on several of the individual breach of contract claims, but genuine issues of material fact existed on the remaining claims. View "Bear Peak Resources, LLC v. Peak Powder River Resources, LLC" on Justia Law

Posted in: Contracts

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