OWL Assetco I v. EOG Resources

Excerpt

The Court addresses whether the Texas Legislature's amount-in-controversy threshold reduction gives the Texas Business Court jurisdiction to hear a previously remanded action and whether the subsequent removal of the action was proper and timely. The Court examines the statutory construction of House Bill 40 and determines removal was both proper and timely under Texas Government Code 25A.006(f). Granting Plaintiffs' motion for summary judgment against defendants' counterclaims for declaratory relief because each requested declaration either duplicates issues already joined by the pleadings or seeks relief beyond this Court's jurisdiction. Granting Defendant/Counter-Plaintiff/Third-Party Plaintiff TMC's Traditional Motion for Partial Summary Judgment on Termination against Plaintiff/Counter-Defendant City Choice. Although City Choice's termination notice was clear and unequivocal; its tender of its termination notice was not the exercise or acceptance of an option, and is therefore, not subject to the "strict compliance" standard applicable to the exercise or acceptance of options; and it substantially complied with notice provisions in exercising its right to terminate, it estopped from obtaining specific performance of the contract it purported to terminate. Denying TMC's Motion for Summary Judgment Against Third Party Defendant City Select Title for Release of the Independent Consideration. TMC does not seek a simple declaration from this Court that TMC is entitled to receipt of the Independent Consideration at the execution of the final judgment in this case. Instead, TMC seeks the immediate (i.e., pre-judgment) release of the Independent Consideration. But it must instead comply with the statutory requirements for a writ of attachment. Granting in part and denying in part Defendants' motion to dismiss under Rule 91a because the pleadings fail to state a legally cognizable claim for breach of contract or for veil piercing, and the fraud claim is adequately plead