Porter & Hedges

1. In A Market Abuzz With Laterals, Buyer Beware

Tuesday, Mar 09, 2010

A recent boom in the lateral market for partners has created exciting opportunities for law firms looking to build out particular practice areas or to increase their presence in certain markets. But firms that scoop up lateral hires without taking a few key steps could wind up regretting those choices down the road, hiring attorneys said.

2. Expect Ambitious AGs To Pursue More Big Cases: Attys

Friday, Feb 05, 2010

With public anger still stoked against big banks and other headline-grabbing companies, there's no shortage of cases for politically ambitious state attorneys general to pursue. And despite some of the risks associated with high-profile litigation, lawyers say we can expect to see more suits like the one filed in New York on Thursday against Bank of America as election time nears.

3. 5th Circ. Clears Superior Offshore’s Liquidation Plan

Wednesday, Dec 16, 2009

A federal appeals court has upheld a bankruptcy court's confirmation of Superior Offshore International Inc.'s Chapter 11 liquidation plan, finding that the undersea construction company satisfied bankruptcy rules in its treatment of securities suit claims related to its initial public offering.

4. Cameron Settles With US Over NATCO Merger

Wednesday, Nov 18, 2009

Bowing to pressure from U.S. antitrust regulators, oil drilling and refining services provider Cameron International Corp. has agreed to divest a portion of its petroleum desalting business in connection with its nearly $1 billion acquisition of competitor Natco Group., allowing the deal to close.

5. Superior Offshore Resolves $23M Back Taxes Claim

Monday, Nov 02, 2009

An agent representing the bankruptcy estate of Superior Offshore International Inc. has reached a deal with the Internal Revenue Service over an initial $22.5 million employment and income tax claim, which the agent argued was too high and overstated the oil exploration services company's true liability.

6. Labels Seek To Bar Usenet Owner From New Ventures

Wednesday, Sep 09, 2009

The record companies that won summary judgment against now-bankrupt commercial Usenet provider Usenet.com Inc. earlier this year — including Arista Records LLC, BMG Music and Virgin Records America Inc. — have asked a court to impose a permanent injunction barring the provider's owner from starting any new business based on copyright infringement.

7. Usenet.com's Assets Frozen In Music Copyright Suit

Thursday, Aug 20, 2009

A federal judge has frozen the assets of Usenet.com Inc. in order to enforce a judgment in favor of several record companies — including Arista Records LLC and Capitol Records LLC — in a suit accusing the commercial Usenet provider of copyright infringement related to music file-sharing.

8. Superior Offshore CEO Asks To Sue AIG Over Bad Loan

Monday, Jul 06, 2009

Superior Offshore International Inc. founder and ex-CEO Louis Schaefer has asked a bankruptcy judge for permission to sue American International Group Inc. on behalf of the undersea construction company for allegedly reneging on an $80 million loan agreement.

9. Arista Prevails In Copyright Case Against Usenet.com

Wednesday, Jul 01, 2009

A group of 14 record companies — including Arista Records LLC, BMG Music and Virgin Records America Inc. — has won a judgment against commercial Usenet provider Usenet.com Inc., which allegedly tailored its service to fill a void left by now-shuttered illegal file sharing networks.

10. Porter & Hedges IP Head Jumps To Fulbright

Thursday, Jun 25, 2009

Twenty-year intellectual property veteran Charles Baker has left his post as IP litigation head at Porter & Hedges LLP to join Fulbright & Jaworski LLP as a partner in its IP and technology practice.

11. Superior-BP Settlement Withstands Investor's Assault

Friday, May 29, 2009

A district judge has backed a bankruptcy court’s approval of bankrupt Superior Offshore Inc.’s settlement with BP PLC and Cross Logistics Inc. related to payment for a $116 million construction project off the coast of Trinidad, despite a prominent shareholder's objection to the deal.

12. Q&A With Fulbright's Lou Strubeck

Thursday, May 28, 2009

One area to watch in terms of future bankruptcy cases is the energy industry. When oil and gas prices were higher, many companies took profits out of their operations and didn't reserve enough for future capital expenditures. Many of these companies are now desperate for operating capital, says Louis R. Strubeck, head of Fulbright & Jaworski LLP's bankruptcy and insolvency practice group.

13. L-3, Safety Vision Settle Microphone Patent Spat

Thursday, May 21, 2009

A federal judge has approved a settlement between L-3 Communications Mobile-Vision Inc. and Safety Vision LP, ending their patent and trade dress infringement dispute over wireless microphones used in vehicle-mounted video surveillance systems.

14. Bankruptcy Crucial For Stanford Creditors: Investors

Tuesday, May 12, 2009

Three members of a group of investors claiming they lost $100 million in billionaire banker Robert Allen Stanford's alleged $8 billion Ponzi scheme have told a judge that Stanford International Bank Ltd. must be forced into bankruptcy to protect creditors' interests.

15. Arista Says Usenet Should Be Booted For Misconduct

Tuesday, May 05, 2009

The 14 recording companies — including Arista Records LLC, Sony BMG Music Entertainment and Virgin Records America Inc. — suing the electronic bulletin board service Usenet.com Inc. for allowing users to post copyrighted music files are seeking terminating sanctions against Usenet for what the record companies term “extreme misconduct.”

16. Engineer, Contractor Off Hook For Celanese Cleanup

Monday, Apr 20, 2009

Finding that an engineering firm and construction company did not know they had damaged a Celanese Corp. methanol line during a water pipeline installation project three decades ago, a federal court has determined that the pair are not liable for cleanup costs under state and federal environmental laws.

17. Bankrupt Superior Sues To Reclaim $9M From Ex-VP

Monday, Mar 16, 2009

Superior Offshore International Inc.'s chief restructuring officer on Friday filed a fraudulent transfer lawsuit against one of the bankrupt oil company's former executives in connection with millions of dollars in cash and stock paid out prior to the company's Chapter 11 filing.

18. Superior Offshore Ch. 11 Plan Trumps Rival Ch. 7 Bid

Thursday, Jan 29, 2009

A bankruptcy court judge on Wednesday approved a Chapter 11 liquidation plan for bankrupt oil services company Superior Offshore International Inc. and its unsecured creditors committee.

19. Judge Won't Toss Superior Offshore Securities Suit

Tuesday, Jan 13, 2009

A federal judge has refused to dismiss a securities class action against officers and directors of Superior Offshore International Inc. and underwriters involved in the bankrupt company's April 2007 initial public offering.

20. Superior Offshore Founder Seeks Ch. 7 Conversion

Monday, Dec 29, 2008

Claiming that bankrupt Superior Offshore International Inc. has no substantial likelihood of rehabilitating itself and that professional fees are eating away its remaining value, the man who founded the undersea oil services company filed a motion last week to convert the case to Chapter 7.