In a deal valued at $5.1 billion, an arm of investment giant Brookfield plans to continue to build out its reinsurance platform with the acquisition of a Galveston-based company. Sidley, Skadden, Greer, Herz & Adams and Paul Hastings advised.
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Business Bankruptcies Decline, But Signs of Danger Are Ahead
Corporate bankruptcies in Texas fell significantly during the first six months of 2021 compared to the record numbers that were filed last year as a result of Covid-19 and the recession. But bankruptcy judges are still much busier than they were before the pandemic thanks to Winter Storm Uri. SDTX Bankruptcy Chief Judge David Jones and legal experts explain why in this report.
CCS Initiative Uses Carbon Accounting and Verification Standards to Boost Low-Carbon Energy Investments
Northern Lights, TotalEnergies, Oxy Low Carbon Ventures, South Pole, Perspectives and Carbon Finance Labs launched a new carbon market initiative this summer to scale-up carbon capture and storage solutions. This article discusses the initiative’s purpose, and related developments that underscore a rapidly developing demand for low-carbon products.
Houston’s Golden Nugget Online Gaming to Join DraftKings in All-stock Deal
Another asset of Houston billionaire Tilman Fertitta is making moves. DraftKings plans to acquire Golden Nugget Online Gaming – the i-gaming arm of the casino empire taken public via a de-SPAC merger last year – in an all-stock deal as Latham & Watkins, Sullivan & Cromwell, White & Case and Vinson & Elkins advise.
Premium Subscriber Spotlight: Weil, Gotshal & Manges
A Dallas-led team at Weil, working with the ACLU of Texas, has prosecuted major federal court litigation aimed at freeing hundreds of medically vulnerable immigrant detainees from an ICE civil detention facility in Conroe, Texas. To date, the Weil/ACLU team has obtained release of 15 medically vulnerable detainees through varying forms of individualized relief. The case is still pending and now awaits class certification.
Texas Law Firm PPP Lending Less in 2021, But More Than Reported in 2020
Newly released data from the Small Business Administration reveals the full extent to which Texas law firms relied on Payroll Protection Plan loans to stay afloat while adjusting to the widespread disruptions of the Covid-19 pandemic. But the data also shows that law firms in Texas rebounded enough to leave a fair amount of federal money on the table. The Texas Lawbook has the numbers.
Energy Transactions Lawyer Leaves Simpson Thacher for Baker Botts
Brad Honeycutt is also the former general counsel of Castleton Resources, a Houston oil and gas private equity portfolio company.
AUSA for SDNY Moves to Dallas to Join Bradley
Elisha J. Kobre developed significant experience investigating securities and commodities fraud and cybercrime over the course of his 11 years as an assistant U.S. attorney with the Southern District of New York.
Former U.S. Attorney for WDTX Lands at Husch Blackwell
Gregg Sofer is the third former U.S. attorney to join Husch Blackwell this year.
Premium Subscriber Spotlight: Hunton Andrews Kurth
Tad Davidson, co-leader of Hunton AK’s bankruptcy and restructuring practice, was among the most in-demand bankruptcy attorneys last year, advising Hi-Crush, Lonestar Resources, Remora Petroleum, Sable Permian Resources and Superior Energy Services in those companies’ Chapter 11s. The firm also stepped up on the pro bono side. Led by Dallas associate Fawaz Bham, Hunton AK partnered with the Dallas Volunteer Attorney Program to help launch the organization’s first virtual legal aid intake clinic.