The Tax Cuts & Jobs Act passed this week by Congress impacts domestic oil and gas space (energy companies, private equity investors, investment bankers, and lenders) significantly. This articles examples rates under the new qualified trade or business deduction, 100 percent bonus depreciation, the corporate AMT, and end of year tax planning. In addition, some joint venture agreements need amending to avoid the unenviable situation of having to get a counterparty’s consent to a transfer for what will become an unnecessary transfer restriction.
More Stories
Dallas Jury Slaps BBVA Compass with $98M Fraud Judgment
Derrick Boyd scored the biggest courtroom victory of his 23-year career last week when a Dallas jury found that a bank had defrauded his client, a North Texas developer, and awarded $98 million in damages. The Decatur-based trial lawyer said the trial turned on emails from bank executives. The Texas Lawbook has the inside details.
Global Business Immigration Firm to Establish National Operations Hub in Richardson
Leaders at Berry Appleman & Leiden say they underwent an “exhaustive search” of U.S. cities before deciding Richardson was the best fit for a flagship office.
Corp. Deal Tracker Weekly Round-Up: Texas Lawyers Part of Pre-Holiday Rush with 16 Firms and 164 Attorneys Working on 15 Transactions Worth $13.8B
After a sluggish couple of weeks, Texas transactional lawyers picked up the pace in year-end deals. Led by a $10.1 billion exchange involving Marathon Petroleum and MPLX, the weekly action totaled $13.8 billion, consigning a gift of billable hours to 164 Texas lawyers in 16 different firms. Claire Poole details the up-to-date deals (and a couple of surprises) in The Texas Lawbook.
Jury Clears Servergy CEO of Most Charges, but Keeps Liability on One
An East Texas jury on Wednesday found William E. Mapp liable for one count of negligence for misleading investors about the business prospects of company that he founded and formerly led, McKinney-based Servergy. But it also cleared Mapp of seven other charges that Mapp committed fraud and offered unregistered securities.
Senate Confirms James Ho and Justice Willett to Fifth Circuit
The U.S. Court of Appeals for the Fifth Circuit has two new judges: Gibson Dunn appellate partner James Ho and Texas Supreme Court Justice Don Willett. The U.S. Senate confirmed Ho Thursday by a 53 to 43 vote.
Sidley Austin Promotes Two Dallas Attorneys to Partner
Margaret Allen and Jessica Sheridan are among a class of 19 newly-elected partners firmwide.
Outstanding Corporate Counsel Lifetime Achievement Award Goes To…
The Association of Corporate Counsel’s DFW Chapter and The Texas Lawbook are pleased to announce the finalists for the official 2017 Outstanding Corporate Counsel Awards. There are three new categories, including the Lifetime Achievement Award. Today, The Lawbook unveils the honoree and name the finalists for all award categories.
T-Mobile Promotes Chris Luna to VP, Legal Affairs
Chris Luna, a leading legal industry advocate for diversity, has new and expanded duties at T-Mobile’s Richardson-based subsidiary, MetroPCS. He now serves on the wireless operator’s senior leadership team, supervises the company’s governmental relations activities and has more management responsibilities. In an exclusive Texas Lawbook interview, Luna discusses the biggest legal issues he faces and his handling of outside counsel.
V&E, DLA Piper, T&K Advise on Oasis Petroleum’s $946 Million Acquisition from Forge Energy
Some familiar names were involved in the announcement late Monday of the acquisition of some West Texas assets from Forge Energy by Oasis Petroleum. The Texas Lawbook has those names involved in the deal that came with a nearly $1 billion price tag.