A Dallas federal judge granted summary judgment on Wednesday to Dallas-based Pioneer Natural Resources which had been sued by a California energy trader for breach of contract for failing to supply natural gas during Winter Storm Uri in February 2021.
Winter Storm Uri Litigation Heating Up at Two Year Mark
The massive legal battle pitting thousands of Texas residents and small business owners against hundreds of energy companies, such as NRG Power, Calpine, Oncor Electric and ExxonMobil, over damages incurred during Winter Storm Uri two years ago is finally heating up. This week’s two-year anniversary of the crippling winter storm also means that the statute of limitations for most Uri-related lawsuits takes effect this week.
Lawyers representing more than 1,500 Texans and businesses have filed more than 80 new wrongful death, personal injury and property damage lawsuits against more than 360 energy companies and ERCOT since last Thursday. Dozens more lawsuits are expected to be filed in Texas courts Wednesday and Thursday.
The Texas Lawbook wrongly reported earlier that CPS Energy had filed for Chapter 11.
Avaya Hires Kirkland, Jackson Walker to Lead Bankruptcy Restructuring in Houston
Cloud communications company Avaya Holdings and a dozen of its affiliated businesses filed for bankruptcy Tuesday in the Southern District of Texas seeking to shave billions of dollars of debt from its balance sheet.
‘Call Your First Witness’ – Fifth Circuit to Lawyers in Final Stanford Ponzi Scheme Trial
A three-judge panel of a federal appellate court has rejected a last-ditch effort by three banks to postpone an upcoming trial in which victims in the R. Allen Stanford Ponzi scheme are seeking billions of dollars in damages. The four most powerful words from the lips of a United States district judge are simply, ‘Call your first witness,’ and the veteran presiding judge will so state in a few short days,” the Fifth Circuit stated in the three-page decision.
Tuesday Morning Selects Munsch Hardt to Lead Second Bankruptcy
In the world of corporate bankruptcy, Dallas-based Tuesday Morning Corp. has entered what is known as Chapter 22. For the second time in three years, the discount retailer Tuesday Morning filed for Chapter 11 protection Tuesday in the Fort Worth Division of the Northern District of Texas citing liabilities of $100 million to $500 million.
Power Companies: Winter Storm Uri Lawsuits ‘Ruinous’ to Industry if Not Dismissed
Scores of Texas electric generators and distributors — CenterPoint, Luminant and NRG, to name a few — asked a Houston appeals court Friday to dismiss more than 230 lawsuits brought against them by more than 1,500 plaintiffs stemming from Winter Storm Uri two years ago because the cases are without legal merit and “upend the state’s electricity markets.”
In two separate mandamus petitions filed with the Fourteenth Court of Appeals in Houston, lawyers for the power generators and electricity transmission and distribution utilities argue that Harris County District Judge Sylvia Matthews “clearly abused [her] discretion in allowing the cases to proceed.”
Q&A: Sarah Decker of McAfee
For Premium Subscribers In this Q&A with McAfee CLO Sarah Decker, she dishes on what she seeks in hiring outside counsel, $2,000 hourly rates, the role of GCs in promoting
McAfee ‘Fortunate Beyond Words’ to Have Sarah Decker In-House
In the four years since Sarah Decker joined computer security giant McAfee, she has had a few items on her plate, including an $8.6 billion IPO amid the Covid pandemic, which meant doing all the legal work necessary for listing on the NASDAQ; a $4 billion sale of its enterprise business; a $450 million securities offering; and a $14 billion take-private transaction in 2022.
Citing numerous successes last year, the Association of Corporate Counsel’s DFW Chapter and The Texas Lawbook have named Decker as the 2022 DFW General Counsel of the Year for a Large Legal Department (21 attorneys or more).
Banks Seek to Postpone Multibillion-Dollar Trial in Final Stanford Civil Case
One of the banks being sued for billions of dollars for allegedly aiding and abetting Houston financier R. Allen Stanford and his investment firm in a massive Ponzi scheme has asked a federal appeals court to stop the 13-year-old case from going to trial later this month. Lawyers for the four banks want the trial set for Feb. 27 in Houston to be postponed because they say the judge in the case has issued orders that are “rife with clear and indisputable errors.”
Senior Exxon Mobil Counsel’s Move to Gibson Dunn is ‘Very Personal’
Exxon Mobil assistant general counsel David Woodcock has departed the energy giant to join the Dallas office of Gibson, Dunn & Crutcher as the firm’s SEC enforcement practice co-head. The move surprised many within the legal department at Exxon Mobil because Woodcock, who was a past regional director of the U.S. Securities and Exchange Commission’s Fort Worth office, was viewed as a likely candidate to be the company’s next chief legal officer.