UPDATED: Texas-headquartered dealmaking has plummeted to historic levels in 2020. The second quarter had only 89 deals, only one more than Q1 2009, at the nadir of the Great Recession. The Texas Lawbook has the numbers and they include a nearly 94% drop in year-over-year value from 2019.
State Bar Discipline
The State Bar of Texas reported its formal actions for June, including 3 disbarments, 11 lawyers suspended and 2 public reprimands. There were no judicial actions reported.
CDT Roundup: 8 Deals, 10 Firms, 50 Lawyers, $6.9B
The oil and gas industry is still reeling from “Black April” — when the NYMEX oil benchmark hit bottom and kept going. Last week two major price reporting agencies launched their own benchmarks aiming to solve the problem by setting the price of Texas oil in Texas.
Waste Management, Advanced Disposal Reboot Merger at $4.6B
In addition to a reduced price, the two companies agreed to sell $835 million in assets, including some likely required for DOJ antitrust clearance.
CDT Roundup: 12 Deals, 9 Firms, 115 Lawyers, $4.44B
We know you’re worried that oil is still hovering stubbornly around $40bbl. But as the weekly CDT Roundup explains, it could be worse: you could be in retail.
CDT Roundup: 6 Deals, 5 Firms, 37 Lawyers, $3.6B
Maybe misery doesn’t always love company. But every once in a while it does enjoy taking inventory. Allen Pusey, standing in for Claire Poole, explains in this week’s roundup.
CDT Roundup: 11 Deals, 7 Firms, 65 Lawyers, $3.2B
As oil prices teased $40bbl last week, the market revealed the wary side of itself. But Texas dealmaking for the first week in June matched last year’s numbers, even if they involved some unexpected players.
Bankruptcy Report: Expect More of Them
Lower for longer remains the watchword for producers and their creditors, according to Haynes and Boone’s periodic energy bankruptcy reports. Here’s what’s happened so far this year.
CDT Roundup: 8 Deals, 7 Firms, 48 Lawyers, $7.34B
In weeks when good news looks good by simply not being apocalyptic — slower coronavirus death rates, modest reopening of public spaces, oil prices above zero — you’re just going to have to lower your standards. Keep that in mind when you’re hunting for good news in this week’s CDT Roundup.
State Bar Discipline: 3 Disbarments, 8 Suspensions, 2 Public Reprimands
An Austin lawyer stole a client’s 401(K) funds. A lawyer from Tyler bounced checks from his IOLTA settlement account. A Waxahachie lawyer failed to fully account for funds from a family’s estate. In all, 13 lawyers were disciplined. Here are the details.