Avoiding multimillion-dollar liability for de facto partnership breach under Texas law — one useful tip - .PDF file.
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…
Click on the link below to read the rest of the DLA Piper briefing.