Businesses of all types and sizes throughout the United States, Mexico and beyond bring their disputes to Gardere's litigation team and receive practical, responsive, boutique-style attention in return. Our clients have access to the firepower and value of a well-known and highly-regarded Firm's capabilities and interdisciplinary strengths.
Gardere has a national and international energy practice formed around our Energy Industry Team, which is a multidisciplinary group of approximately 60 attorneys with diverse backgrounds, experience and skills specific to the energy industry. Our team includes attorneys who have served as in-house counsel for major energy companies, providing a depth of insight into our clients' needs, issues and concerns. We understand and regularly practice in virtually every sector of the energy, and we represent a wide variety of industry participants from multinational corporations to individuals.
From our offices in the United States and Mexico, our International Practice helps clients operate in today’s global economy. We have more than 30 professionals operating as a boutique within an Am Law 200 law firm and are able to provide focused service with the resources of a large firm. We understand that clients who are engaged in the global marketplace need lawyers who can operate seamlessly across multiple jurisdictions. Our international experts are multi-lingual, are culturally fluent and intimately familiar with various legal systems across the world, especially those in Latin America. Whether you need help with commercial transactions, regulatory matters, customs and import regulations, immigration matters, M&A and joint ventures, international disputes, or international tax planning, Gardere’s international team is here to assist you.
We represent domestic and foreign private funds in all aspects of fund formation, fund operations, platform and add-on acquisitions, and portfolio company operations. Our team has a reputation for being the go-to-lawyers for private equity funds, hedge funds, venture capital funds and family offices. We are known for our vast deal experience, the efficient way we staff and manage our work, and the way we maintain our relationships. We get deals done with sophisticated, strategic, and practical advice tailored to the needs of our clients.
*Not admitted to practice law.
On June 4, 2013, Texas Governor Rick Perry signed a law making Texas the latest state to allow the formation of captive insurers, or "captives." The Government Affairs team at Gardere Wynne Sewell LLP drafted the language for and led negotiations with the Texas Department of Insurance that paved the way for the new law that allows parent companies to form "captive" subsidiaries in Texas to self-insure their affiliates' insurance risks.
The new captive law will give Texas companies (or out-of-state companies operating in Texas) a cutting edge alternative risk management option that has risen in popularity as companies seek to maintain greater autonomy insuring risks that are either expensive or difficult to procure. Captive formation has not previously been an attractive option in Texas because companies have had to domicile their captive in other jurisdictions with a captive law. As a result, those companies have faced multiple state compliance hurdles, uncertain tax consequences, and a host of other administrative and expense burdens inherent in operating an insurance company affiliate outside of a parent's home state.
Scheduled to take effect on Sept. 1, 2013, the TDI will begin authorizing "pure captive" insurers in Texas. The law allows for a parent company that underwrites the insurance needs of its operating subsidiaries in lieu of outsourcing the risk to traditional insurers. Other state laws have expanded upon the "pure captive" model to allow for multiple types of captive formations. Such variations — including association, outside, industry group or branch captives — allow either non-traditional or alien corporate structures to form captives within the given state. Some states also authorize "protected cell" captives in which multiple participants contract for a "sponsored" captive that maintains the assets and funds the liabilities of participants according to the terms of their contracts.
While Texas adopted only a "pure captive" model, the Legislature may set up other forms of captives in future legislative sessions if businesses advocate for them. But for the time being, the Texas captive law affords many attractive options for businesses seeking to form or re-domesticate captives in Texas. Highlights of the new law include:
Captives have traditionally been formed by large Fortune 500 companies whose affiliates' national insurance exposure is quite large. But as many small companies become better versed in alternative risk management measures, they find that forming a captive affords greater autonomy when commercial insurance markets are particularly hard. This most often occurs when property/casualty availability stretches thin during times of natural disaster or when costs of specialized coverage for hard-to-insure risks soar. An energy company may form a captive, for example, to guard against environmental claims related to infrequent but potentially high-cost events such as oil spills. Or, health care providers may form a captive to control their own fate with professional liability coverage (i.e., medical malpractice claims).
The new captive law will take effect on Sept. 1, 2013, but many companies are already exploring options to form their captives early so that they can provide input while TDI promulgates its administrative captive formation rules. Given the extensive role the Gardere Government Affairs team played in negotiating the law with TDI, Gardere can assist companies interested in taking advantage of this new pro-business law. We will keep you up-to-date on further developments.
If you have any questions about these or other legislative issues, please contact Kimberly A. Yelkin, executive partner of Gardere Wynne Sewell LLP's Austin Office and chair of the Firm's Government Affairs Practice Group, (firstname.lastname@example.org or 512.542.7001).
The Gardere Captive Team includes Ms. Yelkin, along with Val J. Albright, Partner in the Tax Practice Group, Marco Nájera, Attorney in the Mexico City office, Nanette K. Beaird, Senior Attorney in the Government Affairs Practice Group, and Leslie Ritchie Robnett, Associate in the Government Affairs Practice Group.
The publications contained in this site do not constitute legal advice. Legal advice can only be given with knowledge of the client's specific facts. By putting these publications on our website we do not intend to create a lawyer-client relationship with the user. Materials may not reflect the most current legal developments, verdicts or settlements. This information should in no way be taken as an indication of future results.
You may use the wildcard symbol (*) as a root expander. A search for "anti*" will find not only "anti", but also "anti-trust", "antique", etc.
Entering two terms together in a search field will behave as though an "OR" is being used. For example, entering "Antique Motorcars" as a Client Name search will find results with either word in the Client Name.
AND and OR may be used in a search. Note: they must be capitalized, e.g., "Project AND Finance."
The + and - sign operators may be used. The + sign indicates that the term immediately following is required, while the - sign indicates to omit results that contain that term. E.g., "+real -estate" says results must have "real" but not "estate".
To perform an exact phrase search, surround your search phrase with quotation marks. For example, "Project Finance".
Searches are not case sensitive.