Victory for Ware Jackson clients in international commercial arbitration
Partners Dennis Barrow, Tyler Henkel, and Michelle Meriam secured a total defensive victory in an international arbitration. In the arbitration, former officers and shareholders alleged Ware Jackson’s clients, who are oil field service companies, breached multiple fiduciary duties. The claimants sought to establish that a series of corporate acquisitions, the implementation of a corporate debt structure, a corporate merger, a capital infusion and a stock redemption individually or together constituted an improper scheme to dilute and squeeze the claimants out of a company in which they had previously sold the majority interest to a corporate conglomerate. The claimants sought approximately $9 million in damages, along with their attorneys’ fees. After an evidentiary hearing, the arbitrator rendered an award that the claimants take nothing on their claims.