- July 2, 2021
- Posted by: Stratford Team
- Category: Business
An acrimonious split between Howard Energy Partners’ two founders has led one to ask a Delaware court to take the unusual step of dissolving the San Antonio pipeline and storage company.
Company co-founder Brad Bynum, joined by two colleagues, made the request in a lawsuit filed last month after they were terminated. Bynum had been Howard Energy’s president.
His fellow co-founder, Howard Energy Chairman and CEO Mike Howard, counters that the lawsuit is a ploy by the fired execs to extract larger golden parachutes from the company.
“Their demand is simple: pay us a ransom, or we’ll burn the company down,” Howard and three company directors replied in a court filing.
The dispute threatens to upend Howard Energy, a privately held company that employs more than 350 people and has $3 billion in assets. This month is the 10-year anniversary of its founding.
It’s extraordinary for a…
