Secured $411 million summary judgment in favor of the bank for a gas company?s conversion of 55 Bcf of natural gas in which the bank held a security interest. The judgment was based on claims of breach of a bailment agreement, conversion, trover, detinue, return of property and replevin and rejected misrepresentation counterclaims. The 2008 judgment, which was affirmed on appeal, was the culmination of litigation that began in Texas in 2002 and wound its way through several courts in Texas and New York. A favorable settlement was achieved.
National Bank Litigation (2008)
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