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Tellurian Pays Chairman’s $6.4 Million Legal Bill
LNG firm says Cheniere lawsuit has been dismissed.
February 22, 2022
Tellurian (TELL), a liquified natural gas (LNG) export firm, has paid two years of legal bills racked up by its Chairman and Co-Founder Martin Houston. Tellurian’s other co-founder, Charif Souki, is the former CEO of Cheniere Energy, a competitor in the LNG space, which filed a lawsuit against Souki and Houston alleging they illegally conspired to form Tellurian.
In its latest 10-K, Tellurian revealed it footed the bill for Houston’s legal fees which totaled $6.4 million:
“We paid approximately $5.1 million to third parties to settle outstanding amounts incurred by Mr. Houston for reasonable attorneys’ fees and expenses for the year ended December 31, 2020. As of December 31, 2021 and 2020, we had also paid Mr. Houston approximately $0.9 million and $1.4 million, respectively, for other expenses he incurred in connection with the litigation. As of December 31, 2021, all amounts owed to Mr. Houston were fully settled.”
Related: LNG, SWN, RRC, PDCE, MTDR
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