Hydrocarb Energy Corporation Lawsuit Pursues over $1 Million from Oil & Gas Executives

DALLAS, May 16, 2018 /PRNewswire/ -- Potts Law Firm attorneys Micah Dortch and Chris Lindstrom were recently approved by the Bankruptcy Court as lead trial counsel for United States Bankruptcy Trustee Rodney Tow on behalf of Hydrocarb Energy Corporation.  They have been hired to pursue over $1 million from oil & gas executives Michael Watts, Kent Watts and Clifton Stanley, as well as several companies they own or control.  By filing this suit, the Potts Law Firm will be helping people receive money they are owed by Hydrocarb that was taken by these corporate officers for their own personal benefit. 

The allegations in the lawsuit are that these men used Hydrocarb as part of a scheme to hinder, delay or defraud the creditors of Hydrocarb.  Rather than pay creditors what they were rightly entitled to, Watts, Watts and Stanley enriched themselves.  The Securities & Exchange Commission has also filed lawsuits against these three men for their actions in defrauding investors in other companies, and Michael Watts has been indicted for his actions in New York.

In the past 5 years, Micah and Chris have helped Bankruptcy Trustees collect over $20 million for creditors in other cases where debtors were defrauded.  The purpose of both the state and federal fraudulent transfer acts is to prevent corporate executives from taking advantage of creditors by transferring assets of a company. The Potts Law Firm has a great deal of experience in helping people aggrieved by big corporations and know the tricks often employed to cover up their fraudulent actions.

Adversary No. 18-03075; Tow v. Watts, et al.; In the United State Bankruptcy Court, Southern District of Texas

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Potts Law Firm diligently pursues a variety of complex litigation and mass tort matters, from complex pharmaceutical cases to challenging eminent domain claims. The firm's team of highly competent attorneys have experience in many different areas of complex litigation. Believing that every detail of a case matters, firm attorneys work tirelessly to pursue just compensation, regardless of the obstacles faced. For more information, visit www.potts-law.com.

SOURCE Potts Law Firm