Attorneys Ray Chester, Mike Shaunessy, and Drew Edge celebrated a big win yesterday when their client, the Mitte Foundation, secured a favorable award in arbitration. Arbitrator Suzanne Covington’s award is expected to net the Foundation in excess of $15 million, including $1.9 million in punitive damages, wrongful fees and charges, and attorney’s fees. In 2012, the Mitte Foundation invested in a pair of limited partnerships managed by the defendants to own valuable downtown Austin real estate. However, the partnerships deteriorated and the two sides have been at odds in various courts and arbitration since December 2018.
Ray Chester called the judgment a “decisive victory” and was particularly pleased that, as part of the $1.9 million award, his clients were awarded $350,000 in punitive damages and liability was established under the legal doctrine of alter ego, two things that are “extremely rare” in arbitration. Read more in the Austin Business Journal (subscription required).
Ray Chester is a Top 100 National Trial Lawyer working out of the Firm’s Austin office. Ray is board certified in both Civil Trial Law and Personal Injury Trial Law by the Texas Board of Legal Specialization and has been awarded numerous accolades.
Mike Shaunessy represents plaintiffs and defendants in commercial litigation, employment litigation, as well as suing and defending governmental entities. He is Board Certified by the Texas Board of Legal Specialization in Personal Injury Trial Law.
Drew Edge practices civil litigation, including intellectual property, constitutional, product liablitiy, and commercial disputes. He is an integral member of the McGinnis Lochridge Products Liability Group which was named the 2015 Product Liability Litigation Department of the Year by Texas Lawyer.