San Antonio pipeline company Howard Energy Partners’ founders in bitter ‘business divorce’

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…

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