Texas Judge Pauses Magellan's Fine Bid In Late-Payment Row

Law360, Houston (August 23, 2019, 9:44 PM EDT) -- A Harris County district court judge ended a hearing Friday at which Magellan Terminals Holdings was seeking emergency sanctions against a company over the late payment of a $1.7 million judgment in a breach of contract case, holding that tax returns were needed before any rulings could be made.

Judge Larry Weiman told counsel for Magellan, a court-appointed receiver, and counsel for Mexam Export Import Corp., which does business as ABC Asphalt Plant, that while Mexam appears to have sufficient assets to satisfy the judgment, more evidence is needed.

That evidence is a tax return that the judge said would shed...

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