February 1, 2020 / 12:50 AM / 18 days ago

Texas high court upholds reversal of $535 mln verdict in pipeline fight

The Texas Supreme Court affirmed on Friday a lower court ruling that had wiped out a $535 million jury verdict against pipeline operator Enterprise Products Partners LP over a soured pipeline project with its competitor Energy Transfer Partners LP, the latest chapter in an eight-year case that has piqued the interest of the oil industry due to its implications for business partnerships in the state of Texas.

Justices unanimously concluded that Enterprise had not entered into a partnership when it signed written agreements with Energy Transfer Partners LP (ETP) that explored the construction of a major pipeline, and therefore did not owe ETP $535 million in damages awarded by a lower court for violating a duty of loyalty.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2S7i3oX

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below