Houston-based Axip Energy Services, LP has agreed to sell its $430 million international businesses service to the Canadian Enerflex Ltd.

V&E Represents Axip in $430 Million Sale
Houston-based Axip Energy Services, LP has agreed to sell its $430 million international businesses service to the Canadian Enerflex Ltd.

UPDATED – Weil Leads PetroLogistic’s $2.1 Billion Sale to Koch Industries
Flint Hills Resources, a division of Koch Industries, is acquiring Houston-based PetroLogistics for $2.1 billion.

ZeniMax, id sue Oculus in trade secret spat
A Richardson video game maker and its corporate parent are going after a California firm that they claim hasn’t compensated them for technical know-how they provided in making a virtual reality system.

Jones Day Advises MPC in $2.87 Billion Acquisition
Ohio-based Marathon Petroleum Corporation will acquire Hess Corporation’s retail business, which is the largest chain of company operate gas stations and convenience stores on the East Coast.

Oil CEO Denies SEC Allegations of Securities Fraud
The SEC’s Fort Worth Office has charged a 47-year veteran of the oil and gas industry and his Irving-based energy company with operating a $10 million investment fraud scheme.

Chron: Former Astros Pitcher to Request New Police Brutality Trial
Jurors concluded four Galveston police officers used excessive force during a 2008 wedding reception, but deadlocked on former Astro Brandon Backe’s $13 million request.

Jury Issues $40 Million Verdict Against Baker Botts, Then Poof, The Money was Gone — Updated
A bone-chilling fear swept through lawyers at Baker Botts Thursday when a Dallas jury ruled that the Texas-based law firm acted negligently more than a decade ago when it represented two competing technology companies vying for similar patent protections, but didn’t disclose the potential conflict to its client. The jury placed damages against Baker Botts at $40.5 million.
But 30 seconds later, the fear turned to extraordinary relief when the five-woman and one-man panel also found that Addision-based Axcess International waited three years too long to file its lawsuit against Baker Botts and, as a result, the 700-lawyer firm likely will not have to pay a dime.

Jury Deliberating Fate of Baker Botts’ Legal Malpractice Case
Following three weeks of testimony, lawyers for Axcess International and Baker Botts gave closing arguments Wednesday to the six-person jury. Dallas-based Axcess is seeking $51 million in damages.

Appellate Decision on Arbitration Delay is Grabbing Attention
The Amarillo Court of Appeals vacated an arbitration award based on an arbitrator’s unreasonable delay. The arbitrator took 19 months to make a ruling that parties in the case had agreed would be rendered within 14 days.
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