Short-term bridge loans, in the form of the SCF (subscription credit facility), are becoming an increasingly useful tool for private capital funds that don’t want to keep tapping their investors on capital calls for deals. Claire Poole has the SCF growth numbers, along with her weekly insights on deal-making by Texas lawyers.
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Lubbock Auto CFO Pleads Guilty on Fraud Scheme
The former CFO of Reagor Dykes Auto Group in Lubbock pleaded guilty Tuesday to masterminding a $50 million conspiracy that defrauded the company’s primary lender, Ford Motor Credit Co.
Former Assistant Chief of DOJ FCPA Unit Joins V&E
Fry Wernick is the second recent high profile addition to V&E’s government investigations and white collar criminal defense practice in Washington, D.C.
DBA Earns Awards from State Bar and ABA
The Dallas Bar Association announced this week that it has received awards from the State Bar of Texas and the American Bar Association recognizing its programs and newsletter.
HuntonAK Receives State Bar’s Top Pro Bono Honor
The Dallas office of HuntonAK donated more than 4,000 hours of pro bono service in fiscal year 2019
Cantey Hanger Adds Dallas Litigation Partner
Taylor Anderson was previously at McAlister & Garcia in Fort Worth.
Fifth Circuit Rejects $65M Stanford Settlement with Underwriters
Stanford Financial receiver Ralph Janvey is considering whether to appeal a Fifth Circuit opinion issued Monday that invalidated a $65 million settlement agreement in 2016 between the court-appointed receiver in the Allen Stanford Ponzi scheme case and the insurance providers for Stanford directors, officers and employees.
Bracewell Aids Prosperity on $2.1B LegacyTexas Purchase
Houston-based Prosperity Bancshares is acquiring Dallas-based LegacyTexas Financial Group, a $2.1 billion deal that will help expand Prosperity’s presence in the North Texas market. Bracewell assisted in the transaction and Claire Poole has the specifics.
Kirkland, STB Advise on C&J Energy’s $1.8B Merger with Keane
The Keane Group and C&J Energy announced a merger this week, creating a new pressure pumping giant worth an estimated $1.8 billion in enterprise value. Two national law firms leaned heavily on their Texas-based lawyers to pull off the deal and Claire Poole has the names.
Texas Legal Recruiting Pioneer Susan Pye (1950-2019)
Scores of Texas companies and law firms hired thousands of corporate lawyers and paralegals over the past 25 years for one reason: Because Susan Pye told them to. Pye, a pioneer in legal recruiting and trusted advisor to dozens of corporate general counsel and law firm leaders, died Thursday. She was 69.