Award Revocation Stands In Battle Over Oaktree Deal

Law360, New York (March 8, 2012, 5:40 PM EST) -- A Texas state appeals court said Thursday a trial judge was right to reverse a jury's $1.25 million award to a private equity partner who claims Oaktree Capital Management LP and his partner left him out in the cold on a deal for a Houston-based oil and gas company.

A three-person appeals panel denied a motion by R. Scott Brown of Volant Energy LLC to overturn the 2010 judgment-notwithstanding-the-verdict his partner Allan D. Keel won against him, according to an opinion issued Thursday.

Trial court Judge...
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