Mike Lynn Comments in Houston Chronicle on Enterprise, Energy Transfer Epic Battle
The eight-year court battle continues between the Dallas company Energy Transfer Partners and Enterprise Products Partners of Houston. The point of the case is to determine if the two pipeline companies formed a joint venture over a pipeline project reaching from Cushing, Oklahoma to Houston costing $1 billion. Legal experts describe the case as one of the most important business disputes in Texas since the 1980's Pennzoil and Texaco battle.
Mike Lynn, LPCH Founder and Energy Transfer’s lead lawyer, comments on Enterprise’s actions, “It moved to quickly steal the opportunity, and it moved secretly without telling (Energy Transfer) — even though the players were just a few yards apart.”
Enterprise claims that a legally binding partnership was never established and definite agreements were not approved by both boards of directors. However, the Texas Business Organization Code declares, “Partnership formation in Texas is judged by how the parties act, not just what they write.”
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