Page 34 - Gray Reed News Today

To embed, copy and paste the code into your website or blog: As evidenced by the unprecedented arctic weather last week and the resulting fallout, emergency construction services are essential. Freezing temperatures, hurricanes, tornadoes and other natural disasters lead to a high demand for remediation and reconstruction services. Contractors are often best positioned to provide the necessary emergency construction services to rebuild businesses, residences and communities. Emergency contracto...

To embed, copy and paste the code into your website or blog: What could possibly go wrong when drill pipe and a delivery ticket are sent to a well location? Well … The facts In Knight Oil Tools v. Rippy Oil Company, Knight rented drill pipe to Rippy for an Eagle Ford well.  A delivery ticket represented that the pipe complied with API premium class standards. The pipe, marked with two white bands, was supposed to meet standards for API premium class pipe. Some of the pipe did not comply wit...

“A cry for survival comes from the planet itself . . .” —President Joseph R. Biden, Inaugural Address, January 20, 2021 Joe Biden’s inauguration as President of the United States promises to bring the issue of climate change to the fore in the United States like never before. There is likely no issue on the horizon more likely to affect the careers of landmen and the lawyers who support them than climate change. While opinions vary, there are increasingly few people in denial over the ...

A good friend called me recently with a question for one of his clients.  The client, an elderly client with health problems, wanted to know if the payments she has been making to her...

The lesson from In re First River Energy LLC:  Even though Texas lien law does not require the filing of a financing statement for perfection, file one anyway. It will be helpful in the event a dispute is decided under the laws of another state. The transactions Texas and Oklahoma producers sold oil and condensate to First River Energy, a midstream service provider, which was expected to pay the producers by the 20 th of the month following delivery. First River was organized under Delaware l...

Always a Panther: Alumna Pursues Passion for Corporate Law Amy Lott has fond memories of her time as a student at Duncanville High School. She was a cheerleader, took media technology classes and participated in student council. Her favorite educator was English teacher, Doris Whitley. “She always encouraged me to write,” Amy said. Amy graduated high school in 1998, and she and Mrs. Whitley kept in touch through the years. About 10 years ago, Mrs. Whitley invited Amy to her birthday party a...

In Exxon Mobil Corp. v. United States of America, from the United States District Court for the Northern District of Texas, ExxonMobil learned the hard way that filing amended tax returns can be very costly. Some of the reasons why an amended return is dangerous are below, but first to the case: ExxonMobil was involved in oil and gas ventures in Qatar and Malaysia, which for tax purposes were treated as partnerships and reported on the company’s consolidated tax returns. ExxonMobil had histo...

Employment Development Department– If you have employees, timely and fully address all LWDA requirements. California Franchise Tax Board– If you are required to file a federal income tax return and received income above a certain amount from a California source. Taxes, Fees and Related Charges, Penalties and Interest Pay all Taxes Current and in Full File a Final Report– Typically, a Final Report is different from and in addition to your annual report. 2. Form Your Texas Entity Best to de...

In a precurser of disputes sure to come, in Lyle v. Midway Solar, LLC, a Texas court of appeals delivered a win for solar energy by applying the accommodation doctrine in favor of a solar developer’s actual use of the surface of the land over speculative future development of the mineral estate. The lesson for mineral and surface owners Mineral owners: This decision should remind you to diligently monitor surface use and, as appropriate, intervene in the development process with informed fee...

1 Min Read Buffet-style pizza chain CiCi’s Pizza has filed for Chapter 11 protection with a plan to reorganize under the control of lenders and exit bankruptcy within two months. The Coppell, Texas-based company, represented by Gray Reed & McGraw, filed its case Monday in the U.S. Bankruptcy Court for the Northern District of Texas with $82 million in debt. CiCi’s Chief Financial Officer Richard Peabody said in court papers that the company’s revenues dropped substantially in 2020 due to ...