HOUSTON – Oct. 4, 2018 – PRLog — A jury found that Mark Hotze and two of his brothers who saved a Houston energy services company from ruin did not breach their fiduciary duties and owed nothing to two other brothers who had hoped to close the business and cash out.
The suing brothers alleged Mark Hotze and two other brothers breached their duties when they saved Compressor Engineering Corp. (CECO) from foreclosure in 2014 and 2015.
The Houston jury had a lengthy list of questions to answer in a lawsuit that could have cost the defendants up to $30 million had it gone the other way. The trial lasted five weeks.
Mark Hotze’s lawyer Collin Kennedy, of the Frisco-based law firm Hanshaw Kennedy Hafen, LLP, said the case took a terrible toll on the family. “Their father started this business and gave it to the five sons. The brothers who abandoned the business in hard times are trying to extract money from the three who stood by and resurrected it,” Mr. Kennedy said.
David and Bruce Hotze, along with David’s wife Donna, sued brothers Mark and two other siblings and some of their joint and separate business entities. The two suing bothers wanted to unravel and close the business. Bruce and David Hotze left CECO in 2014 when the company was facing foreclosure and the loss of over 400 jobs. Mark and the other brothers who were sued restored the company and saved the jobs.
The case is David Hotze v. IN Management, LLC et al. No. 2016-36300 in Harris County’s 61st District Court.
Hanshaw Kennedy Hafen, LLP (https://www.hanshawkennedy.com/) is a multi-practice law firm based in Frisco, Texas. Our attorneys handle a broad range of practice areas including commercial litigation, business law, healthcare law, estate planning, catastrophic injury, divorce and family law. We represent a diverse client base that consists of individuals and businesses ranging from sole proprietorships, family offices, newly formed startups to large corporations in a wide range of industries. Our breadth of experience includes handling matters across the United States and matters reaching as far as Latin America, Europe and Asia.
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Collin Kennedy at Hanshaw Kennedy Hafen, LLP
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