BUSINESS DIVORCE: PLAINTIFF REPRESENTATIONS
- Represent majority shareholder currently in state district court in Fort Worth alleging that majority owner has been deprived of his ownership interest in substantial real estate assets by the minority owners. The trial court granted a summary judgment against the client on his claims, but we successfully appealed the case to the Fort Worth Court of Appeals, which reversed the decision. The case is again pending in state trial court. Bakke v. Harvison, et al., Cause No. 352-244033-10.
- Secured a multi-million dollar buyout of minority owner’s 49% interest in a family business after filing suit and conducting substantial discovery in the litigation. This settlement was achieved for minority owner after court entered a summary judgment on the client’s behalf holding that the Defendant/General Partner and Trustee had breached his fiduciary duties. Pickens v. Pickens, et al., Cause No. 02-01105.
- Litigated claims to verdict for co-founder and 47% owner of ARGO Data Resources based in Dallas. On behalf of the minority owner, we secured a court-ordered mandatory dividend of $85 million and other relief after a six-week jury trial in state district court in Dallas. On appeal, the Dallas Court of Appeals reversed the judgment and ordered the minority shareholder take nothing on his claim, and the Supreme Court denied a petition challenging the appellate court’s reversal. Shagrithaya v. Martin, et al., Cause No. 07-15149-I.
- Obtained confidential settlement after filing suit for three limited partners in state court in Houston. Claims arose out of their ownership in a privately owned Texas beer distributorship. The minority owners alleged that they had been deprived of their fair share of the substantial proceeds from the sale of the business. Joseph Polichino, et al. v. Hillman International Brands, Ltd., et al. Cause No. 2004-346878.
- Obtained confidential settlement in lawsuit filed in Midland, Texas for minority shareholder in drilling equipment manufacturing company who contended he was forced out by the majority shareholder. Solansky v. Solansky, et al., Cause No. CV48169.
- Represented tenants in common (TICs) of residential apartment complex in Grand Prairie, Texas. The TICs purchased the property as a “like-kind exchange” pursuant to Section 1031 of the Internal Revenue Code. We filed an involuntary bankruptcy to assert claims for the TICs against the Master Tenant arising out of its operation of the apartment complex. After filing the bankruptcy action, we successfully negotiated a settlement of all claims with Master Tenant. In Re Sequoia Forum LeaseCo, LLC, Cause No. 11-33449-bjh.
- Represented limited partner in a heating/cooling service and repair business who was forced out of the limited partnership. As co-counsel, we assisted the limited partner in achieving a confidential settlement and buyout of his minority ownership interest. Shafer, et al. v. Moreno, Cause No. 141-246870-10.
- Filed suit in Tarrant County state district court and secured confidential settlement for limited partner in insurance business who had disputes with the General Partner related to the value of his minority ownership interest in the business. Grob v. Texas Wasatch Insurance Holdings Group, LLC, et al., Cause No. 352-249603-10.
- Represented minority owner of out-of-state investment fund that utilized government backed investments to develop low income housing in foreign markets. The minority owner alleged that he was forced out of the business, and we secured a confidential settlement and buyout of his minority ownership interest that avoided litigation.
- Represented an out-of-state minority investor in a Houston-based family business and secured a confidential buyout of client’s ownership interest in the business that enabled her to avoid litigation.
BUSINESS DIVORCE: DEFENSE REPRESENTATIONS
- Represented former majority owners of a privately-held Dallas company against claims filed by NexBank SSB in State District Court in Dallas. In the lawsuit, NexBank sought to recover more than $16 million based on claims arising from a loan default. We secured a summary judgment dismissing of all of NexBank’s claims before trial. The case then settled on confidential terms. NexBank, SSB v. Thomas and Dean, Cause No. DC-10-09631.
- Represented group of investors in an oil and gas company, whose assets were invested in a Ponzi scheme. We filed an involuntary bankruptcy to create a vehicle for the bankruptcy trustee to file a lawsuit against the company’s officers and directors and realize the proceeds of an applicable D&O Policy. This D&O litigation resulted in a settlement that produced gross proceeds of $2 million providing assets for distribution to creditors. In Re Shale Synergy, LLC, et al., Cause No. 10-31683-hdh.
- Assisted majority shareholder as co-counsel in defense of claims relating to the majority owner’s redemption of minority owner’s stock. The firm helped prepare summary judgment materials and assisted with negotiations leading to a confidential settlement of claims at issue. Robert Garza, and Robert Garza ex rel Enseo, Inc. v. Enseo, Inc., Vanessa Ogle and William Fang, Cause No. CC-11-02951-B.
- Represented majority owner of a family-owned, specialized equipment repair company, who was the subject of claims by family members who were minority owners of the business. The firm helped the majority owner restructure the company’s board of directors, implement new business processes and resolve the minority owners’ claims without litigation.
- Represented majority owner of a family-owned home interior products company, who was in conflict with the only minority owner in the business. On behalf of the majority owner, the firm helped to initiate a business dialogue with the minority owner that resulted in a confidential settlement that avoided litigation.
- Defended the founder and minority owner of a Dallas restaurant chain in a lawsuit filed by the majority owners. The firm was able to secure a confidential buyout of the minority shareholder’s interest in the business shortly after the lawsuit was filed. M. Crowd Restaurant Group, et al. v. Michael Rodriguez, et al., Cause No. CC-09-00965-G.