Lose in litigation. File bankruptcy. Stay litigation. Historically, that’s a common cycle in the Texas oil patch. No exception appears to be likely after Smith Energy, represented by Rusty Hardin, won an $8.5 million final judgment against landman Mark Hardwick in a West Texas court.
Within less than 72 hours of that final judgment, Hardwick had filed a petition seeking Chapter 11 protection in U.S. Bankruptcy Court for the Western District of Texas in Austin. On the same day, Hardwick filed a request based on his bankruptcy filing to stay the litigation in the 121st District Court in Terry County, where the judge had issued the final judgment against him.
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