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eBook details

• Title: Maddox v. Gulf Oil Corporation
• Author : Supreme Court of Kansas
• Release Date : January 29, 1977
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 57 KB

Description

The opinion of the court was delivered by This is a class action brought by Lawrence E. Maddox (plaintiff-appellee and cross-appellant) individually and on behalf of some 1,971 royalty owners, including those who do not reside in Kansas or have leases covering lands in Kansas or both, against their producer, Gulf Oil Corporation (defendant-appellant and cross-appellee), for recovery of interest on ""suspense royalties."" The total amount of suspense royalties held from 1965 through the fall of 1972 was almost $988,000 which Gulf commingled with its other funds and used in its business operations. Except for the smaller size of the class membership, the starting of withholding in 1965, the payout by Gulf in the fall of 1972, the judgment of the trial court on January 9, 1976, and the point hereafter discussed concerning division orders, this case is identical in legal issues and factual situations to those presented in Shutts, Executor v. Phillips Petroleum Co., 222 Kan. 527, 567 P.2d 1292 (No. 47,917, decided July 11, 1977). The same FPC Hugoton-Anadarko area and FPC Opinion No. 586 are involved.

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