On Page 15 of J.C. Penney Company’s bankruptcy filing Friday late afternoon, there is the signature of the corporation’s general counsel and corporate secretary, Brandy Treadway. “Attached hereto is a true, complete, and correct copy of the resolutions of the Board of Directors of the Company.” Here is a profile of J.C. Penney’s GC, who will play a critical role in the retailer’s restructuring.
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Colorado E&P Company Files for Chapter 11 in Houston
Colorado-based Ultra Petroleum is one of the latest energy companies to file for bankruptcy amid the COVID-19 and oil pricing crises. The restructuring is another example of Kirkland and Jackson Walker teaming up. Natalie Posgate has the details.
Updated: Exxon’s $77M SDTX Environmental Trial Goes Virtual
Exxon Mobil and the federal government were in the midst of a $77 million bench trial in Houston when the proceedings were interrupted by COVID-19. Instead of waiting to return to court, the parties chose to finish out the trial electronically. And while there has been no decision on the environmental dispute involved, there has been a ruling on the electronic bench-trial experience. Natalie Posgate has the verdict.
SCOTX Returns “Fuzzy Animal” to 2nd COA
The City of Fort Worth’s decades-old struggle with the “fuzzy animal” exception to state gaming laws entered a new phase Friday when a unanimous Texas Supreme Court sent its case back to the Second Court of Appeals. The state’s highest court asked the lower court to make the constitutionality of Fort Worth game rooms less…well, fuzzy. Janet Elliott explains.
Susman Moved to Houston Rehab Facility
According to his brother, famed Houston trial lawyer Steve Susman is showing new signs of progress after a freak bicycle accident left him comatose for 11 days. Terry Carter has an update and background on the accident.
In Times of Uncertainty, Texas Law Firm Leaders Should Focus on What They Can Control
As the Covid-19 crisis stretches on, law firms need a renewed focus on communication and culture. The managing partners of Sidley’s two Texas offices weigh in and also discuss how the pandemic has changed lateral and talent recruitment.
Dallas Firm Reaches $52M Settlement for Facebook Workers Suffering From PTSD
The plaintiffs alleged that their repeated exposure to violent and graphic content — child sexual abuse, beheadings, terrorism, animal cruelty and other disturbing images — have caused them PTSD and other psychological issues. The settlement, obtained by Burns Charest, is considered “a first of its kind” because it also provides workplace reform in addition to monetary relief.
The Texas Middle Market – Flat or Firm, Stable or Stale?
There are seven middle market corporate law firms in The Texas Lawbook 50 in 2019 – down from nine a year earlier. They employed 721 corporate lawyers and generated $452 million in revenues. Some had record years. Others restructured. Legal industry analysts say these firms are a throwback to old-fashioned legal practices when lawyers were actually counselors for their business clients, and they might just thrive in this new crisis environment. Updated to include correction.
SCOTX: Jurisdiction Challenge Not Allowed in Parental Termination Case
The custody dispute was closely watched for its potential implications to allow challenges to other final custody rulings. It also attracted attention for the lineup of high-powered legal talent involved in the appeal. Janet Elliott has the details.
CDT Roundup: 18 Deals, 16 Firms, 124 Lawyers, $5.63B
Most alternative investors are sticking to their long-term plans despite the coronavirus, although they differ on when business will return to normal, while deal flow involving Texas lawyers continues to trend upward.