Investor Barred From Taking Ex-Biz Partner's Oil Cos.

Law360, Houston (February 26, 2013, 8:15 PM EST) -- A Texas appeals court on Tuesday blocked an investor's effort to take control of oil and gas businesses tied to her former business partner against whom she holds a $31 million judgment, finding the partner does not directly own them.

The First District Court of Appeals ruled Corpus Christi heiress Toby Shor must release records, office space and other assets she seized that belong to Pelican Oil & Gas Management LLC and BNP Operating LLC because the companies are wholly owned by a “spendthrift” trust set...
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