In the year that will soon be past, the sheer volume of energy-related, or energy-adjacent transactions are worth noting. Whether in O&G per se, data center energy demands or the more mundane multitude of PE acquisitions in HVAC manufacturing and service companies, the sides seem okay with the value. So, we weren’t that surprised by the November findings of the semi-annual Haynes Boone Borrowing Base Redeterminations Survey. The CDT Roundup takes a look at the details, along with the usual run-down of the week’s M&A deals and the lawyers behind them.
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Law Professors Talk Possible Jackson Walker Defenses in Bankruptcy Fee Litigation
Two law professors recently shared their thoughts in interviews with The Texas Lawbook on what defenses Jackson Walker is likely to raise in litigation where the U.S. Trustee is attempting to claw back millions in fees awarded to the firm in cases where David Jones served as a mediator or judge. Jones resigned his bench last year after a secret romantic relationship with a former Jackson Walker bankruptcy professor came to light.
P.S.: Join the Joy: Texas Lawyers Help Those Less Fortunate
Billy Bob Thornton in Bad Santa had the “Three Bs,” and now The Texas Lawbook has the “Three Ps” — public service, pro bono and positive press. Bracewell, O’Melveny & Myers, Haynes Boone and Yetter Coleman are the first four law firms in Texas to provide information on their efforts to help those in need during the holidays. The details of their initiatives are included in this week’s P.S. column. Please send us the good work you are doing and thank you for the other firms that have sent us their efforts. They will be included in next week’s P.S. column.
Former Colleagues Surprise Hecht at Final Argument
Retiring Texas Supreme Court Chief Justice Nathan Hecht was greeted by 17 former judicial colleagues and many other well-wishers as he heard his final case. Some of those gathered now sit on federal benches, while others have thriving private practices. All expressed gratitude for his service. (Photo courtesy Supreme Court of Texas)
California Trucking Firm Files Bankruptcy in Houston
In its bankruptcy petition, Kal Freight cites between $100 million and $500 million in liabilities and provides the same range for its assets. Houston lawyer Benjamin Lawrence Wallen of Pachulski Stang Ziehl & Jones along with lawyers from the firm’s New York and California offices are listed as Kal Freight’s lead legal advisors.
Haynes Boone Announces New Texas Partners
The Dallas-based firm announced Thursday that it is promoting 15 lawyers to partner — nine of them in Texas — in eight different offices, including Dallas, Fort Worth and San Antonio. It is the second largest class of partner promotions in the firm’s history.
ACC-DFW & Texas Lawbook Name Lifetime Achievers: Bridgett Zeterberg, Marita Covarrubias, Derek Lipscombe
Bridgett Zeterberg has been a GC for nearly three decades guiding companies such as Total Wine, Tuesday Morning and now Torrid Holdings “through periods of significant transformation.” For more than 25 years, Marita Covarrubias has been an in-house lawyer and leader at Tenet Healthcare “managing some of the largest employment and general business litigation matters throughout the country.” Derek Lipscombe has been an in-house lawyer focused on labor and employment litigation for 20 years at AAA Texas, JC Penney and Toyota North America.
Zeterberg, Covarrubias and Lipscombe have a new common attribute: the Association of Corporate Counsel’s DFW Chapter and The Texas Lawbook are honoring them with the 2024 DFW Corporate Counsel Award for Lifetime Achievement.
Six Important Lessons from My First Year as a Full-time Mediator
Some of the lessons surprised me, and they may surprise other new mediators — as well as attorneys who are new to mediation.
Specific Jurisdiction Contours Central in SCOTX Oral Arguments Over Plane Crash Litigation
The state’s high court heard oral arguments Wednesday morning in the lawsuit brought by Sheema Shaik against BRP-Rotax GmbH that asks it to determine whether Texas courts have specific jurisdiction over a foreign manufacturer based on an allegedly defective engine.
Energy Transfer Co-Founder Kelcy Warren’s Testimony Blocked in Breach-of-Contract Trial Over 2018 Pipeline Explosion
A Pennsylvania judge ruled to block testimony from Energy Transfer co-founder Kelcy Warren, who is also executive chairman on the board of directors. Dallas-based Cardinal Midstream had sought to have Warren testify about comments he made about Energy Transfer “making mistakes” in its Pennsylvania projects. Cardinal Midstream is seeking $33 million from Energy Transfer under a purchase agreement, claiming that a pipeline explosion prevented the fulfillment of an earnout condition tied to gas delivery volumes. Energy Transfer argues that the explosion, caused by a landslide from heavy rains, qualifies as a “force majeure,” while Cardinal Midstream blames poor pipeline design for the failure.