Just a dozen years ago, a handful of lawyers in Texas breached the $1,000 hourly rate barrier. The $1K lawyers were the best of the best in their practice areas: trial lawyers Steve Susman, Tom Melsheimer, Charles Schwartz and Harry Reasoner for bet-the-company litigation, or deal lawyers like Jeff Chapman, Andy Calder, Tom Roberts or Michael Dillard to lead mega-billion-dollar transactions. This year, a handful of Texas lawyers broke through another billing barrier: $2,000 an hour. Dozens more are expected to start charging clients $2K next year.
Energy Companies Racking Up Hundreds of Millions in Legal Bills in Winter Storm Uri Litigation
More than 400 lawyers at more than 30 elite corporate law firms in Texas have made a total of more than $280 million in legal fees related to disputes involving Winter Storm Uri — a tab that legal industry insiders estimate will easily top a half-billion dollars before the litigation is over — even though not a single case has even been set for trial.
And those are only the lawyers representing energy companies and insurance firms. More than 80 plaintiffs’ attorneys — most of them from Houston — have filed lawsuits on behalf of tens of thousands of individuals and businesses claiming they were harmed by the actions — or lack of actions — of the energy companies during Winter Storm Uri. If successful, those lawyers could earn upwards of a billion dollars.
Lawyers, Guns and Money: An Occasional Series on Movies, TV and Other Stories About Lawyers and the Law
Michael Clayton (2007, Dir. Tony Gilroy)
Is Michael Clayton a lawyer movie? It’s a fair question, given that the main character isn’t really a lawyer. He operates in the dark corners of the legal profession, trying not to get too dirty, until he reaches a point where he can no longer look at himself in the mirror. Played by George Clooney, Michael Clayton isn’t the kind of movie to supply an unequivocal happy ending. Having settled accounts, Michael climbs into the back of a New York City cab, hands the driver some money and tells him to drive — anywhere. The credits roll over Clooney’s pensive face.
Experts: Affirmative Action Ruling Puts Weight on Firms to Foster Legal Field’s Diversity
While diversity, equity and inclusion efforts will likely continue to face headwinds, experts say the legal profession can take specific steps to mitigate the potential impact of the Supreme Court’s recent decision that banned affirmative action in higher education. Natalie Posgate sought insights from corporate in-house lawyers, law firm leaders and affirmative action experts on what the impact may be and what the reaction should be going forward. As one lawyer put it: “It’s up to us to take a stand and make a difference.”
Texas Law Schools Make Jumps in 2024 U.S. News Rankings
U.S. News & World Report had to delay its release of the 2024 rankings after some institutions raised questions about the data. The new list shows the University of Texas at Austin School of Law still leads the state, but Texas A&M University School of Law is rising rapidly.
Vitol’s Averill Conn is at ‘the Intersection of Energy and New Technology’
Averill Conn has spent the past 29 months at Vitol, where she played a key role in the acquisition of three wind farms in Pennsylvania and another in Illinois, the establishment of Vitol’s solar and battery storage development platform, the negotiation of a long-term Renewable Energy Certificates purchase agreement with Meta Inc. in connection with a solar project in California, the negotiation of long-term virtual power and purchase agreements of utility-scale solar facilities in the Northeast involving AT&T and Vitol’s investment in FlexGen Power Systems, a software technology provider for energy storage solutions.
Citing Conn’s extraordinary success, the Houston Chapter of the Association of Corporate Counsel and The Texas Lawbook award the Vitol Associate GC with the 2023 Houston Corporate Counsel Award for Senior Counsel of the Year for a Large Legal Department.
When it Comes to Diversity & Inclusion, HPE ‘Just Gets It’
Over the last several years, general counsel Rishi Varma and associate general counsel Jude Andre have implemented a number of diversity initiatives at Hewlett Packard Enterprise, whose corporate legal department is known for its innovation, welcoming culture and commitment to advancing diversity, equity and inclusion in the legal profession. The result has been a more engaged workforce around DEI issues and recognition by the Association of Corporate Counsel’s Houston Chapter and The Texas Lawbook. They have named HPE — with Varma and Andre at the helm — as finalists for the 2023 Houston Corporate Counsel Award for Achievement in Diversity and Inclusion award.
Eleox GC Becky Gottsegen Helps Energy Giants Work Toward a Common Goal
In the fall 2021, six large North American energy companies that vigorously compete against each other formed a joint venture that used real-time digital technology that would help them resolve certain operational inefficiencies in natural gas post-trade processing. But the new JV, Eleox, needed a GC. They chose Becky Gottsegen.
“One of my strengths is building. I like making things happen,” Gottsegen said. And that is an understatement. She has done everything during her first 16 months — negotiating contracts with business partners, handling antitrust concerns, ensuring cybersecurity and data protection, getting the six energy giants to agree on SaaS agreement terms, filing patent applications, helping pick brand colors and even “finding hip Heights office space.” Gottsegen is also a finalist for the 2023 Houston Corporate Counsel Award for General Counsel of the Year for a Solo Legal Department.
BMC Legal Team Needed ‘Sheer Tenacity, Strategy and Endurance’ to Win $1.6B Award
BMC Software GC Pat Tagtow and his senior counsel, Sarah Menendez, spent five years litigating and two weeks at trial claiming that competitor but sometimes business partner IBM made a “material misrepresentation” and acted in “bad faith” during contract negotiations when it agreed to not displace BMC’s products from AT&T’s mainframe systems but did so anyway. There were 52 depositions, 17 expert reports, hundreds of thousands of pages of documents produced as evidence and more than 950 court docket entries.
But last Memorial Day, Tagtow, Menendez and lead trial lawyer Sean Gorman spent all day checking phone messages and emails every 30 minutes and refreshing PACER to see if the judge had issued his verdict. A billion dollars was at stake. Finally, just as the Menendezes sat down to a dinner of buttermilk brined baked chicken, biscuits and slaw, the decision arrived. This is the story behind the three people who led the litigation and why it is a finalist for the 2023 Houston Corporate Counsel Award for Business Litigation of the Year.
Raymond Chang ‘Takes Extreme Ownership of Everything’ at DNOW
DistributionNOW GC Raymond Chang and his colleagues noticed a wave of sudden worker departures at its Odessa Pumps business. A speedy internal investigation was followed by a quick lawsuit in which the global supplier of oil and gas drilling equipment and parts accused an Odessa businessman and other former workers of stealing confidential information and trade secrets. The case went to trial five months later ending with a jury unanimously finding in DNOW’s favor and awarding $9 million in damages.
The Association of Corporate Counsel’s Houston Chapter and The Texas Lawbook have named Chang as the 2023 Houston Corporate Counsel Award for General Counsel of the Year for a Midsized Legal Department. This is his story.