In those early years, I had mutual clients with Ron Morgan who bought, refurbished, redesigned and resold houses and condos in such varied places as New Orleans, Baton Rouge, Dallas, Manzanilla, Mexico, and, of course, Midland. Typically, these were wealthy women, and this was their hobby. My role was to handle disputes with contractors, or, in most cases, “subs,” or to negotiate purchases and sales. There were often legal issues outside what Ron and his client were doing.
One of our clients, a young Midland heiress, was fighting for her financial life against the FDIC, and, in her defense, I represented her in Federal Court in Louisiana and state court in Texas. She had become involved in building a hotel in Odessa, Texas, which went way over budget and went broke, as did the bank that financed it. She was down to her last twenty million after her loss in this investment, and I was trying to protect it from the FDIC, who was trying to recoup the bank’s losses. By some strange coincidence, she was a newspaper heiress like Jackie Bancroft, whom I had not yet met, but by no means as wealthy.
I tell the stories of representing unusual clients who were mutually the clients of Ron Morgan in my book: Observer: The Ronnie Lee and Jackie Bancroft Spencer Morgan Story, a tale of people, greed, envy, manipulation — even crime.
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