DALLAS, TX (March 6, 2013) ⎯ An electric power company, represented by Susman Godfrey LLP, received a favorable outcome in an arbitration proceeding involving a multimillion dollar contract dispute with a long-term power purchaser. The buyer had attempted to terminate a 30-year electric power purchase agreement but withdrew its notice of termination after Susman Godfrey brought the arbitration proceeding.
“We are pleased to achieve such a great result for our client so quickly,” said lead counsel, Barry Barnett, a partner in the Dallas office of Susman Godfrey. The firm filed the arbitration agreement proceeding in December 2012.
The buyer claimed that the Susman Godfrey client’s alleged delay in delivering electricity entitled it to end the contract. The purchaser’s unilateral withdrawal of the notice ended the dispute.
The result illustrates the efficacy of alternative fee arrangements. Susman Godfrey represented the power company under a hybrid engagement, one in which the client paid a fraction of the firm’s hourly fees and agreed to pay a success fee (equal to a multiple of the firm’s investment in the case) for a favorable outcome.
About Susman Godfrey LLP
For more than 30 years, Susman Godfrey has focused its nationally-recognized practice on just one thing: high-stakes commercial litigation. It is one of the nation’s leading litigation law firms with offices in Houston, Dallas, Seattle, Los Angeles, and New York. www.susmangodfrey.com