Bankruptcy and Restructuring

Practice Contact

David M. Bennett
Practice Group Leader
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Thompson & Knight has a uniquely high level of expertise in oil and gas and energy reorganization and bankruptcy proceedings. Our experience ranges from medium-sized regional bankruptcy cases to larger cases of national import, including Lehman, Enron, and others. We represent the entire range of constituencies involved, including debtors, secured and unsecured creditors, bondholders, committees, and regulatory agencies.

The Firm received a national tier-one ranking for Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law in the 2016 edition of U.S. News - Best Lawyers®Best Law Firms,” the preeminent listing of the nation’s top legal practices.  Thompson & Knight is also ranked among the top 15 firms in Texas for Bankruptcy/Restructuring in Chambers USA 2015 by Chambers & Partners as well as among the top firms nationwide for Finance: Corporate Restructuring (including bankruptcy) by The Legal 500 US 2015 by Legalease, which notes that Thompson & Knight  is “a strong performer in energy-related restructurings” and “is rated for its ‘deep knowledge and client-focused service.’”

Our attorneys are extremely experienced in Gulf of Mexico and other federal lease oil and gas issues, including working with the Minerals Management Service, the Louisiana State Mineral Board, the Texas General Land Office, state Attorneys General, and other regulatory and supervisory agencies.

Thompson & Knight attorneys understand and are highly experienced in all aspects of plan negotiation, preparation, and confirmation. For example, we represented Baseline Oil & Gas Corp., Cross Canyon Energy Corp., and Davis Petroleum Corp. in Chapter 11 bankruptcy cases, each involving prepackaged plans of reorganization (“pre-packs”). Each company exited from bankruptcy in less than 60 days and are among the fastest to be confirmed in the U.S. 

Our lawyers are particularly well-versed in such litigation options as asset valuation, preference, fraudulent transfer, avoidance, and officer and director litigation. We have assisted clients in debtor-in-possession financing, motions to lift stay, exit financing, asset purchases and sales (including Section 363 sales), data rooms, bid procedures, and dealing with environmental issues.