By Rick Archer (June 1, 2022, 7:48 p.m. EDT) – A Texas bankruptcy judge upholds a bankruptcy court order allowing a $4.2 million payment to the losing bidder at the Chapter 11 auction of Bouchard Transportation Co.’s oil barge floats, saying its bid raised the final price and vindicated Bouchard’s promise to pay the fee.

In a ruling on Tuesday, District Court Judge Lee Rosenthal said evidence showed Bouchard’s board of directors’ decision to accept a stalker offer from Hartree Partners on the condition that he pay a “fee breach” and expense reimbursements if Hartree lost the auction had resulted in more money for creditors, rejecting…

Stay one step ahead

In the legal profession, information is the key to success. You need to know what’s going on with customers, competitors, practice areas and industries. Law360 provides the intelligence you need to stay an expert and beat the competition.

  • Access to case data in articles (numbers, filings, courts, nature of lawsuits, etc.)
  • Access to attached documents such as briefs, motions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and more!

TRY LAW360 FREE FOR SEVEN DAYS