Legal Update

Ted writes with the following (thanks Ted!):

On Monday, July 8th an unopposed motion was filed. “MOTION Unopposed Motion for an Order Setting a Schedule For Counterclaim Plaintiffs’ Motion for a Declaratory Judgment and Preliminary Injunction filed by ART-FGT Family Partners Limited, Horizon Kinetics LLC, Eric L Oliver, SoftVest LP (Falconer, Russell)”

Translated, this means both side have agreed to a court hearing on the Declaratory Judgement (motion to dismiss with a declared judgement in favor of HK, Oliver, etc). The judge is going to take the argument briefs from each side and there will then be a hearing where each side will present their arguments, with questions from Judge Boyle before ahe makes a ruling. Before this agreement her ruling was going to be a written response without a hearing.

There has been some date movement on the filing dates for this motion. The Trustees have been granted additional time to file their arguments against this motion, now July 26th, a move from the original date of July 15th. HK/Oliver, etc will have until August 5th to respond. Since a time extension was granted to the Trustees, often one will granted routinely to HK/Oliver, etc if requested. However, if they feel the arguments of the Trustees are weak, they may just hold to the August 5 date, so they can move faster to the hearing.

The Judge wanting a hearing suggests she is interested in asking questions and uncovering additional information that may not be in the briefs before making a ruling. This also suggests its an important ruling, so going by the book is important to avoid appeals.

Fyi: source information is below. https://www.pacermonitor.com/public/case/28272476/Texas_Pacific_Land_Trust_et_al_v_Oliver