April 2017 Committee on School Finance Permanent School Fund Item 14

Discussion of Pending Litigation

April 19 and 20, 2017

COMMITTEE OF THE FULL BOARD: DISCUSSION
COMMITTEE ON SCHOOL FINANCE/PERMANENT SCHOOL FUND: DISCUSSION
STATE BOARD OF EDUCATION: NO ACTION

SUMMARY: The State Board of Education or the Committee on School Finance/Permanent School Fund may enter executive session in accordance with the Texas Government Code, §551.071(1)(A), to discuss pending and contemplated litigation with the general counsel, legal staff, and, if necessary, attorney(s) from the Attorney General's Office. The Committee of the Full Board or the Committee on School Finance/Permanent School Fund will meet in Room 1-103 to discuss this item.

Cases to be discussed may include:

Lyondell Chemical Company, No. 09-10023; Edward S. Weisfelner, as Trustee of the LB Creditor Trust v. Morgan Stanley, Adv. Pro. No. 10-04609 (Bankr. S.D.N.Y.) and Edward S. Weisfelner, as Trustee of the LB Litigation Trust v. Holmes, Adv. Pro. No. 10-05525 (Bankr. S.D.N.Y.);

Tribune Company, No. 08-13141; The Official Committee of Unsecured Creditors of Tribune Company v. Fitzsimmons, Adv. Pro. No. 10-54010 (Bankr. D. Del);

Deutsche Bank v Bank of America, No. 3:11-CV-01175-F (N. D. Tex., Dallas Div.) and Deutsche Bank v. Employees Retirement Fund of the City of Dallas, No. 3:11-CV-1167-F; ( N. D. Tex. Dallas Div. ) CONSOLIDATED in: In re: Tribune Company Fraudulent Conveyance Litigation; No. 11-MD-2296 Consolidated Multidistrict Action (S.D.N.Y.); and

any other litigation arising after the date of posting or reasonably contemplated as of the date of the board meeting.

BOARD RESPONSE: Board may advise and comment.

PREVIOUS BOARD ACTION: The committee is apprised of pending litigation when the need arises.

FUTURE ACTION EXPECTED: Continued briefing on procedural developments.

BACKGROUND INFORMATION AND SIGNIFICANT ISSUES: None.

PUBLIC COMMENTS: None.

OTHER COMMENTS AND RELATED ISSUES: None.

Staff Member Responsible:
Von Byer, General Counsel
Legal Services