Litigation

She alleges that, because the stapling rights were an “extraordinarily valuable community asset,” Tindall and his firm hired a financial expert to value the stock. The expert valued the Tinsel shares at more than $150 million, she continues, while Miguel Loya's financial expert valued the Tinsel shares at about $30 million.

However, according to the suit, Tindall failed to meet a June 2010 deadline to produce the documents her financial expert relied upon to support the $150 million valuation. The family court judge granted Miguel Loya's motion to exclude Leticia Loya's financial expert because the documents were not produced at least two days prior to the expert's deposition.

Loya alleges that, after the ruling, Tindall “begged” the judge to order the case to mediation, and the judge agreed. After a “marathon 23-hour mediation session,” Loya alleges that Tindall coerced her into accepting far less than the actual value of the Tinsel shares. As a result, she lost more than $100 million in community asset value.

Loya alleges that Tindall's failure to meet the deadline caused her to suffer a stupendous loss, and further, that his firm charged and received millions of dollars in attorneys' fees and costs in little over a two-year period. She is seeking a minimum of $150 million in actual damages, punitive damages, fee disgorgement, attorneys' fees, interest and costs.
' Brenda Sapino Jeffreys, The Texas Lawyer

Woman Sues Divorce Attorney, Firm

Leticia B. Loya of Houston, TX, recently filed a professional negligence/legal malpractice and breach of fiduciary duty suit against Houston family law attorney Harry L. Tindall and his firm, Tindall & England, alleging she lost more than $100 million in community assets in her divorce because of the defendants' actions. Loya also alleges that Tindall and the firm charged her “clearly outrageous, unreasonable and unconscionable” fees.

In her petition, filed in June, Loya alleges that she retained Tindall and the firm in 2008 to represent her in a divorce from her “extraordinarily wealthy husband,” Miguel Loya. Prior to and at the time of the divorce, Mr. Loya was employed by Vitol Inc., and Leticia and her husband were major shareholders in that company. Beginning in 2006, she and her husband exchanged their shares of Vitol common stock for shares in Tinsel. They received “so-called 'stapling rights,'” which would increase the value of their holding in Vitol.

She alleges that, because the stapling rights were an “extraordinarily valuable community asset,” Tindall and his firm hired a financial expert to value the stock. The expert valued the Tinsel shares at more than $150 million, she continues, while Miguel Loya's financial expert valued the Tinsel shares at about $30 million.

However, according to the suit, Tindall failed to meet a June 2010 deadline to produce the documents her financial expert relied upon to support the $150 million valuation. The family court judge granted Miguel Loya's motion to exclude Leticia Loya's financial expert because the documents were not produced at least two days prior to the expert's deposition.

Loya alleges that, after the ruling, Tindall “begged” the judge to order the case to mediation, and the judge agreed. After a “marathon 23-hour mediation session,” Loya alleges that Tindall coerced her into accepting far less than the actual value of the Tinsel shares. As a result, she lost more than $100 million in community asset value.

Loya alleges that Tindall's failure to meet the deadline caused her to suffer a stupendous loss, and further, that his firm charged and received millions of dollars in attorneys' fees and costs in little over a two-year period. She is seeking a minimum of $150 million in actual damages, punitive damages, fee disgorgement, attorneys' fees, interest and costs.
' Brenda Sapino Jeffreys, The Texas Lawyer