The lawsuit claims Red Bull committed fraud, breached its fiduciary duty and breached a contract when it ended its two-decade business relationship with KC Distributing despite promises that KC would not be terminated and despite significant investments KC had made.
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Lilis Energy Seeks to Restructure
Another Texas exploration and production company has sought protection under Chapter 11 of the U.S. Bankruptcy Code. Fort Worth-based Lilis Energy filed Tuesday in the U.S. District Court in the Southern District of Texas, citing $251 million of debt.
Texas Supreme Court Extends, Modifies COVID-19 Emergency Order Again
In what has become a monthly ritual, the state’s highest court issued its 18th emergency order related to the COVID-19 pandemic that essentially extends its previous emergency order from May 26 for another month, except in a few specific circumstances. The ban on civil and criminal jury trials, as well as civil case filing deadlines, have been extended into September.
Nicole Lynn’s Double Shift: Corporate Litigator and NFL Sports Agent
An associate at Norton Rose Fulbright, Nicole Lynn is also a sports agent with Lil Wayne’s Young Money agency and the only African American female agent to represent a top 10 NFL draft pick. Lynn is part of a team representing an offshore equipment company in a $550 million dispute and litigating a major Voting Rights Act case on behalf of students at Prairie View A&M.
Here are the Lawyers Involved so far in the Oxy-Sanchez Lawsuit
Occidental Petroleum sued Sanchez Energy last week in a federal bankruptcy court in Houston, where Sanchez has been undergoing a Chapter 11 reorganization since last August. The lawsuit is tied to a $2.3 billion deal in the Eagle Ford that Sanchez entered with Anadarko, which is now owned by Oxy.
SCOTX Rejects Federal Standard for TWC Air Ambulance Claims
In a big win for private insurance companies, the Texas Supreme Court said more than $50 million in disputed air ambulance fees were covered by Texas Workers Compensation standards, not federal aviation rules.
Joe Jamail Endowment for Veterans Legal Aid Hits $1M
A few months after the death of famed Houston trial lawyer Joe Jamail in 2016, another prominent attorney, Richard Mithoff, created an endowment to memorialize his life-long friend’s commitment to pro bono and military service. Since, the endowment has helped provide legal services to 8,800 veterans in Texas.
CDT Roundup: 8 Deals, 10 Firms, 50 Lawyers, $6.9B
The oil and gas industry is still reeling from “Black April” — when the NYMEX oil benchmark hit bottom and kept going. Last week two major price reporting agencies launched their own benchmarks aiming to solve the problem by setting the price of Texas oil in Texas.
Chesapeake Energy Officially Files Ch. 11 in Houston
Citing the need to eliminate $7 billion in debt, Oklahoma City-based Chesapeake Energy officially filed for Chapter 11 restructuring protection Sunday in the Southern District of Texas. Seven prominent corporate law firms, including Kirkland, Jackson Walker, Sidley, V&E and Akin Gump, are working on the bankruptcy.
Another Balance Sheet Bites the Dust in the Permian — Updated
Houston-based Sable Permian Resources is the latest energy company to fall victim to the COVID-19 crisis and the Saudi-Russia oil price war and file for bankruptcy protection as a result. But court documents reveal that the oil producer has been struggling with his balance sheet since 2016.