NuStar Energy, L.P., and Kaneb Management Company, L.L.C. v. Diamond Offshore Company

OPINION

TRACY CHRISTOPHER, Justice.

This is an appeal of the trial court’s rulings on cross-motions for summary judgment by the successors of the parties to an asset and stock purchase agreement. The parties to this suit asked the trial court to render declaratory judgment interpreting the contract. The seller’s successor contends that the trial court erred in granting summary judgment in favor of the purchaser’s successor and in denying its own summary-judgment motion. Because we conclude that the agreement is ambiguous, we reverse the judgment and remand the case to the trial court.

I. Factual…