Word: texaco
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...document had only six lines of print, but for Texaco its price may run into the billions. The Texas Supreme Court refused to review a $10.5 billion judgment against the third largest U.S. oil firm. Now Texaco's only avenue of escape is the U.S. Supreme Court...
...Texaco has sought relief in the courts ever since a Texas jury ordered the company to pay the fine to Pennzoil in 1985. The jury held that Texaco had illegally enticed Getty Oil to break a merger agreement with Pennzoil. Last April, facing a deadline to post bond for the judgment, Texaco became the largest firm in U.S. history to file for bankruptcy protection. Texaco had offered Pennzoil some $2 billion as a settlement; Pennzoil demanded more than $4 billion. Pennzoil's price reportedly has now risen to $6 billion...
...involved in a largenumber of issues of public policy. We want toexplore each of those to see which if any of hisopponents were motivated to do this," Lacovarasaid. In addition to his role in the Borkhearings, Tribe served as counsel to Pennzoilwhich won a $10 billion case from Texaco in April...
Tribe also represented Pennzoil in its $10billion case against Texaco, arguing part of thecase in front of the Supreme Court, which decidedin favor of Pennzoil in April. Other parts of thecase continued to be negotiated through the summerand fall...
...some corporate boardrooms as "vultures," the traders at R.D. Smith specialize in buying and selling low-priced stocks and bonds issued by companies that have filed for bankruptcy protection or are perilously close to taking that step. This dishonor roll ranges from such well-known hard-luck cases as Texaco, Manville and LTV to obscure ailing firms like Crystal...