Avoiding multimillion-dollar liability for de facto partnership breach under Texas law — one useful tip
After a lengthy trial, a Dallas jury has found that a de facto partnership existed between Energy Transfers Partners (ETP) and Enterprise Products Partners ‘to market and pursue a pipeline project to transport crude oil from Cushing, Oklahoma, to the Gulf Coast’.
The jury then concluded that Enterprise had breached its partnership duty of loyalty by instead pursuing the pipeline project with another company, Enbridge (US), and awarded ETP, at its election, $319m (£191m) in actual damages or $595m in disgorgement damages for the breach.
Finding that Enterprise had not acted maliciously, the jury did not award punitive damages…
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Global Financial Markets Insight — the case for a better-functioning securitisation market; the cost of holding ABS; and more
DLA Piper has released the latest version (issue 4, Q3 2014) of its Global Financial Markets Insight publication.
Corporate Insurance Trends 2014 is a collection of articles highlighting some trends and key issues for financial lines insurers and their insureds in 2014.
Analysis from The Lawyer
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