Pennzoil took a Texaco suit to the Supreme Court.

In its appeal, Pennzoil claimed that federal courts have no right to suspend a Texas law that would have required Texaco to post an $11.1-billion bond. Pennzoil is appealing a ruling by a federal court in New York. The court ruled that forcing Texaco to post bond in that amount would hinder Texaco’s ability to appeal a Texas court judgment against it over its acquisition of Getty Oil. The New York court ordered Texaco to post security of $1 billion instead.