David Poole, who worked on an oil rig out of high school and rose to become the top legal officer at two major energy companies in Texas, retired as the GC of Range Resources Friday. In an interview with The Texas Lawbook on Sunday, Poole discusses his passion for oil and gas law, his challenges and successes as a GC for two decades, his best day on the job and his plans for the future at Wick Phillips.
Updated – Texas Court Rules PUC Price-Setting During Winter Storm Uri Unlawful
The Texas Public Utility Commission emergency rules in February 2021 that increased electric rates to $9,000 per megawatt-hour in response to the demand for power because of Winter Storm Uri were “invalid” and must be reexamined, a Texas appeals court ruled Friday. The Austin Court of Appeals ruled that PUC board members issued two unlawful rules — an “operation of executive fiat” — that allowed ERCOT to increase the emergency price of electricity 650 percent for five days. The decision, according to legal experts, could be a multibillion-dollar victory for some retail power companies.
Diamond Sports Group Files $8B Restructuring in SDTX
The operator of the Bally Sports Networks has hired Porter Hedges, Paul Weiss and Wilmer Cutler to lead the company through Chapter 11 bankruptcy and restructuring.
15 GCs and Senior In-House Counsel Talk Diversity, Law Firms, Pipeline
The Texas Lawbook interviewed 15 corporate GCs and senior in-house counsel in Houston and the DFW area about the role of diversity in hiring outside counsel, specific steps law firm leaders can take to improve diversity and address the pipeline.
Corporate counsel at Keurig Dr Pepper, McAfee, Schlumberger, Noble Corp, HF Sinclair, Ocwen Financial, Tuesday Morning, Talen Energy, PepsiCo Foods, American Airlines, Shell USA, Phillips 66, MB2 Dental and BHP give their insight related to DEI issues.
Banks Agree to Pay Stanford Victims $1.34B to Avoid Houston Trial
Three banks – Toronto-Dominion Bank, HSBC Bank and Independent Bank (formerly Bank of Houston) – have agreed to pay $1.34 billion to Ponzi-scheme victims of Houston financier R. Allen Stanford and his investment firm.
TD Bank, HSBC and Independent Bank were scheduled to stand trial starting today in Houston federal court where they were accused of aiding and abetting Stanford in perpetrating an $8 billion fraud against 18,000 investors.
Updated – Houston Woman Whose Ex-Cheated in Divorce Agreement Could Get $90M
Laura Yosowitz borrowed $500,000 from her family to bring a lawsuit against her ex-husband because she believed he lied about his business dealings when they divorced in 2016. This week, a Houston jury issued a verdict that Martin Lee Kay, Yosowitz’s ex, did mislead her — to the tune of $155 million.
Swiss Bank Settles Stanford Ponzi Scheme Lawsuit for $157M
The court-appointed receiver in the R. Allen Stanford massive Ponzi scheme litigation scored another victory Tuesday when one of five banks accused of aiding and abetting the Houston financier agreed to settle claims against it for $157 million. The agreement comes just days before four banks are scheduled to go to trial in Houston.
Q&A: Texas Instruments’ Debbie Bartlett
Debbie Bartlett discusses challenges facing future GCs, advice for young lawyers seeking to go in-house, the changing relationships between in-house counsel and outside lawyers and law firm rate increases.
TI’s Debbie Bartlett: A Lifetime of Achievements
Debbie Bartlett’s college psychological profile gave her two career options: Be a lawyer or a movie director. Texas Instruments has been the beneficiary of Bartlett deciding to go to law school. For the past 27 years, she led or played a critical role in 208 domestic and international transactions, including 54 acquisitions at TI with a combined deal value of more than $15 billion.
In January, the Association of Corporate Counsel’s DFW Chapter and The Texas Lawbook honored Bartlett with the 2022 DFW Corporate Counsel Award for Lifetime Achievement. This is her story.
Just Energy Seeks to Join Litigation Against PUC Over Winter Storm Uri Pricing
Retail electric provider Just Energy has asked the Austin Court of Appeals to allow it to join a lawsuit brought by a half-dozen other Texas power suppliers challenging the legality of Texas Public Utility Commission orders increasing the price of electricity during Winter Storm Uri in 2021 by 650 percent.