While energy bankruptcies are likely to continue, the airline industry may end up being the hardest hit, according to panelists participating in last week’s “Corporate Bankruptcy Fever” CLE. Moreover, the disruptions that have emerged from the COVID-19 pandemic are changing the paths and prospects for many more businesses in many different industries facing Chapter 11.
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The Last Trial of T. Boone Pickens – The Best Three Minutes I’ve Ever Worked For Free
Legendary Texas oilman T. Boone Pickens was 88 years old when he went to court in Pecos against another energy giant, J. Cleo Thompson. Hundreds of millions of dollars were at stake. It was Pickens’ last public fight and it featured fireworks and big-time trial lawyers, including Pickens’ handpicked attorney, Chrysta Castañeda. In their new book, Castañeda and co-author Loren Steffy provide extraordinary insight into Pickens and his last trial. The Texas Lawbook is pleased to provide this exclusive excerpt.
Veronica Foley Is Precision Drilling’s ‘Key to Success’
Veronica Foley was five when her grandfather, a lawyer in Columbia, was assassinated for being a political activist. The family lived in constant fear. She took different routes to school daily. Nearly four decades later, Foley is the general counsel at Precision Drilling. She and lawyers at Norton Rose Fulbright last year won a heated 8-year FLSA battle that could have been devastating for the Houston company. Foley and the law firm are the recipients of the 2020 Houston Corporate Counsel Business Litigation of the Year Award. The Texas Lawbook has the exclusive inside story.
DBJ: DOJ Scrutiny into Match Group Has Ended After Nearly a Year, Filing Shows
The Dallas-based company received a grand jury subpoena from the DOJ last year for documents relating to certain marketing-related claims in a lawsuit from the Federal Trade Commission against the company.
DBJ Q&A: KLV Capital Founder Discusses the Firm’s Acquisition Strategy
KLV Capital’s Vic Keller weighed in on the private equity shop’s investment strategy, its portfolio companies’ performance and what M&A activity will look like going forward.
Patent Suits Filed in WDTX Against Facebook, Google, eBay, Expedia
A longtime California technology software innovator filed nine lawsuits this week – six of them in the Western District of Texas – against some of the largest and most profitable corporations in e-commerce claiming that they illegally used his patented technology without a license.
Federal Prosecutors Charge Creditors Co-Chair in Neiman Bankruptcy with Fraud
The U.S. Securities and Exchange Commission and the U.S. Justice Department have charged Marble Ridge Capital founder Daniel Kamensky with violating federal securities laws for allegedly perpetrating a fraud in his role as co-chair of the unsecured creditors committee in the Neiman Marcus bankruptcy proceedings taking place in Houston.
CDT Roundup: 11 Deals, 9 Firms, 94 Lawyers, $2.53B
Whether they are preparing to file or scrambling so they don’t have to, there are two traits that characterize most recent transactions in Texas: bankruptcy or the fear of bankruptcy. This is not hard to imagine in a state where bankruptcies have tripled over this time last year.
DBJ: Case Over $2B Frisco Development Could Drag for Years, Lawyer Says
The future of Frisco’s $2 billion Wade Park project could be more uncertain after a bankruptcy case containing fraud allegations was filed last week – and it could take years in court to untangle.
State Bar of Texas Disciplinary Actions
Summer disciplinary actions at the State Bar of Texas were scant. Activity reported include four suspensions and one request for reinstatement.