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KOCH BUSINESS HOLDINGS v. AMOCO PIPELINE HOLDING

No. 07-13273.

554 F.3d 1334 (2009)

KOCH BUSINESS HOLDINGS, LLC, Plaintiff-Counter-Defendant-Appellee, v. AMOCO PIPELINE HOLDING COMPANY, Defendant-Counter-Claimant-Appellant.

United States Court of Appeals, Eleventh Circuit.

January 14, 2009.

Attorney(s) appearing for the Case

Charles K. McKnight, Jr., Nations, Toman & McKnight, LLP, Atlanta, GA, James Worth Draughn, Jr., Kirkland & Ellis, LLP, Washington, DC, Richard C. Godfrey, Catherine L. Fitzpatrick, Kirkland & Ellis, LLP, Chicago, IL, for Amoco Pipeline Holding Co.

Brandon Raynard Williams, John L. Latham, Alston & Bird, Atlanta, GA, James M. Armstrong, Foulston, Siefkin, LLP, Wichita, KS, for Koch Business Holdings, LLC.

Before TJOFLAT and MARCUS, Circuit Judges, and VINSON, District Judge.

TJOFLAT, Circuit Judge:

Amoco Pipeline Holding Company ("Amoco") and Koch Business Holdings ("Koch") entered into a purchase agreement, pursuant to which Koch agreed to pay Amoco $295 million as a base payment for Amoco's shares in a corporation. Koch also agreed to pay an extra $5 million subsequent to closing upon the occurrence of specified conditions. After closing, Koch took the position that the conditions had not been fulfilled and refused to pay the $5 million...

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