Dallas County District Judge Monica Purdy presided over a seven-day bench trial in May before determining that PrimaLend violated the terms of a loan agreement when it changed the locks and foreclosed on an Ohio car dealership before first exhausting attempts to recover its money by pursuing the business’ assets. Judge Purdy is expected to enter final judgment awarding the Benit family about $6.7 million within the next week.
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ExxonMobil Inks Deal to Buy CO2 Pipeline Operator Denbury for $4.9B
The transaction, which has been rumored about since last fall, reflects the oil giant’s push to expand its low-carbon solutions business.
How SCOTUS ‘Shook the Rails’ on State Court Jurisdiction
The U.S. Supreme Court’s recent ruling in Mallory v. Norfolk Southern has the potential to bring forth the most fundamental shift in jurisdictional case law in decades. The decision opens the doors for new state laws expanding their courts’ jurisdictional reach. Businesses operating in Texas must grapple with this uncertainty and the accompanying risks it presents.
Gibson Dunn Adds Tax Depth in Houston
Hillary Holmes, co-head of Gibson Dunn’s Houston office, said Greg Nelson’s “deep tax expertise, particularly in the energy industry, will be of immense value to our clients.” Nelson most recently led the Houston office of Paul Hastings, but worked with Holmes for nearly a decade at Baker Botts.
CDT Roundup: 16 Deals, 12 Firms, 172 Lawyers, $5.4B
A new report from Refinitiv suggests that bankers are hurting these days. Investment banking fees are down during the first six months of 2023 — off 18 percent from 2022, year-over-year, and the lowest since 2016. Advisory fees from M&A fared even worse. The culprits include U.S. involved M&A, which has been lagging in both volume and value. The Lawbook’s Claire Poole looks at the underlying stats, including a few sectors that have thrived, even during the current lag — and, of course, the usual roll call of deals reported by Texas lawyers last week.
K&S Lands Houston Litigator from GT
Mary-Olga Lovett, a member of Greenberg Traurig’s global executive committee, has taken her decades of trial experience to King & Spalding.
14 Charged in Dallas in $53M Covid Payroll Loan Scheme
“Defrauding the government is an affront to American taxpayers,” says Leigha Simonton, U.S. attorney in Dallas. “Defrauding the government during a pandemic — at a time when millions of hardworking entrepreneurs struggled to make payroll and rent — is pouring salt in a wound.”
Litigation Roundup: Horizon Bank Challenges Texas Law, ESG Class Action Against American Airlines Moves Forward
In this edition of Litigation Roundup, the Fifth Circuit asks the Texas Supreme Court to answer two certified questions, a team of Austin lawyers are hired to represent Twitter in a $90 million suit against Wachtell and Texas Instruments sues a slew of insurers over damage to its clean room.
Corporate Deal Tracker: 2023 M&A Transactions
Below is a list of qualified M&A transactions reported to The Texas Lawbook for 2023. The list is organic, designed to grow as needed. So if you have deals that qualify or
Houston Chronicle: KBR Settles Iraq War Whistleblower Lawsuit for $109 Million
Allegations of waste and inefficiency surfaced against U.S. companies contracted by the military to provide equipment and services for troops following the 2003 invasion of Iraq. Lawyers for two former KBR employees working in the Middle East accused the company of over-ordering $340 million worth of supplies for U.S. troops and sued KBR in 2011. A dozen years later, KBR has agreed to settle for nearly $109 million, the largest to date in connection with fraud and waste allegations during the war.