Sam Rayburn Municipal Power Agency v. Ralph J. Gillis, Gillis Borchardt & Barthel LLP, Obain Associates Limited and the Jasper/VPPA Settlement Trust
This appeal concerns Sam Rayburn Municipal Power Agency's (SRMPA) lawsuit against its former attorney, Ralph J. Gillis, and his firm, alleging breach of fiduciary duty and fraud related to the 'Nisco Deal' and the 'Cambridge Project' energy initiatives. SRMPA accused Gillis of self-dealing and undisclosed personal financial gains from these projects. The trial court, following a jury verdict, denied SRMPA's claims regarding the Nisco Deal due to the statute of limitations, but awarded damages for Gillis's breach of fiduciary duty concerning the Cambridge Project. SRMPA appealed the denial of equitable relief, the limitations finding, and the quantum of damages, while Gillis, Obain, and the Jasper/VPPA Settlement Trust filed cross-appeals. The Court of Appeals affirmed the trial court's judgment across all contested issues.