Energy Future Holdings has paid its lawyers and financial advisers about $600,000 a day for each and every one of the 827 days – including weekends and holidays – since it filed for bankruptcy in April 2014. The Texas Lawbook reviewed 450 federal court records and discovered that more than 380 business lawyers and more than 240 financial advisers have billed EFH thousands and thousands of hours for work they’ve done on the bankruptcy – some of them charging as much as $1,400 an hour. As a result, the Dallas power company bankruptcy is now one of the five most expensive corporate restructurings in U.S. history.
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Porter Hedges, Norton Rose Fulbright and Weil Handle Multibillion-Dollar Deals
Texas lawyers from Porter Hedges and Weil, Gotshal & Manges worked on a couple of the biggest deals announced in the past week.
Jackson Walker Scores Rare Win for Corpus Christi Client Over Patent Board
In a precedent-setting decision, the Circuit ruled that PTAB improperly threw out Magnum Oil’s patent by essentially adopting arguments on behalf of an outside party that had challenged the patent’s validity – even though that party did not make those arguments and failed to present valid reasons to support them.
Corporate Deal Tracker: Door Cracks Open for Capital Markets
Texas lawyers found that the capital markets remained tight-fisted during the first six months of this year, but new data indicates that the door to the vault might be cracking open ever so slightly for the rest of 2016.
The Texas Lawbook’s Corporate Deal Tracker shows that Texas-based lawyers worked on 115 securities offerings valued at $51.5 billion in the first half of the year. That marks a significant decline from the deal flow witnessed in H1 2015 – down 35 percent on count and 45 percent on value – but it wasn’t nearly as bad as the market conditions during the second half of last year, the data shows.
Tax Expert Andrew Betaque Rejoins Locke Lord in Dallas
Betaque discusses the tax topic that is the “most significant development” in his career that every multinational corporation, private equity firm and certain S corporations need to understand.
The Firm to Call to ‘Beat City Hall’
Andy Taylor and George Hittner founded TaylorHittner to serve individuals and companies at the intersection of business, politics and the law.
The Firm to Call to 'Beat City Hall'
Andy Taylor and George Hittner founded TaylorHittner to serve individuals and companies at the intersection of business, politics and the law.
New SEC Resource Extraction Payment Rules: Are You Prepared?
The new rules will require significant new disclosure by affected issuers, including many Texas oil and gas companies. This article begins with a summary of the new rules, and concludes with a description of the steps Texas issuers should be taking to prepare.
Godwin PC has a New Name
The firm has announced Bruce Bowman and Jenny Martinez as named shareholders.
Texas Lawyers Reflect on Personal Olympic Experiences
Four former Olympians are looking forward to watching the televised Rio Olympic Games that open Aug. 5. Looking back to their own experiences, these Texas attorneys – Oba Thompson of King & Spalding (pictured), Brian Farlow of Gruber Elrod, Conrad Adams of Matthews & Associates and Adam Setliff of the Setliff Law – tell personal back-stories that give insights to the quadrennial event considered to be the world’s foremost sports competition. The Texas Lawbook has some of their recollections.