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Texas Statewide Rule 8 Overhaul

Auto Dealer Valuation Insights

In October 2023, the Railroad Commission of Texas (the “RRC,” or the “Commission”) announced that for the first time in nearly 40 years, 16 Texas Administrative Code (TAC) §3.8 relating to Water Protection), also known as Statewide Rule 8 (“Rule 8”), would undergo a significant overhaul.

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Sorrento Ch. 11 Will Stay In Texas

Law 360 M&A

A Texas bankruptcy judge Tuesday denied requests to transfer the Chapter 11 case of drug developer Sorrento Therapeutics Inc. out of the Lone Star State for having insufficient ties to the venue.

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Texas Ruling Clarifies That Bankruptcy Shields LLC Rights

Law 360 M&A

A Texas bankruptcy court’s recent ruling in In re: Envision makes it clear that the Bankruptcy Code preempts a section of Delaware state law that terminates a member’s interest in an LLC upon a bankruptcy filing, clarifying conflicting case law, say Larry Halperin and Joon Hong at Chapman and Cutler.

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Sorrento Says US Trustee's Protest Of Texas Venue Off Base

Law 360 M&A

told a Texas bankruptcy court the company's choice to bring a Chapter 11 in the Lone Star state was sound, so the court should ignore a call from the U.S. Sorrento Therapeutics Inc. Trustee's Office to trash or relocate the case.

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Comparing Corporate Law In Delaware, Texas And Nevada

Law 360 M&A

With Elon Musk's recent decision to reincorporate his companies outside of Delaware, and with more businesses increasingly considering Nevada and Texas as corporate homes, attorneys at Baker Botts look at each jurisdiction's foundation of corporate law, and how the differences can make each more or less appealing based on a corporation's needs.

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Texas Hotel REIT Says Blackwells Wants Illegal Proxy Contest

Law 360 M&A

A Texas hotel real estate investment trust asked a Texas federal court Sunday to stop a shareholder vote "from being infected with deception and misinformation," saying a New York-based hedge fund wants to run an illegal proxy contest to take control of the company's board of directors while hiding plans to buy it.

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Dykema-Led CPS Energy Buying Texas Gas Assets For $785M

Law 360 M&A

Dykema Gossett PLLC-advised CPS Energy has agreed to buy a Texas power generation portfolio from Talen Energy Corp. for $785 million, the companies said Wednesday.

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