Patrick McManemin

Patrick McManemin

  • 214.969.1292
    214.880.3201
  • 212.751.3397
    214.880.3201
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Of Counsel

  • Thompson & Knight LLP
    One Arts Plaza
    1722 Routh Street, Suite 1500
    Dallas, TX 75201 USA
    214.969.1292
    214.880.3201
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Patrick McManemin has more than 40 years experience representing clients in jury and bench trials and commercial arbitrations. He also focuses his practice on reorganizations and workouts of troubled and distressed companies in industries such as investment banking, financial services, insurance, real estate (including affordable housing and tax credit projects), banking, structured finance, securities, and energy. Patrick also has significant expertise in advising senior management and board members on corporate governance and compliance issues, and avoidance or resolution of significant disputes in advance of litigation or mediation. His litigation practice has included trying cases to verdict as both Plaintiff and Defendant including commercial lending disputes, partnership disputes, fraudulent transfer, real property foreclosure, breach of fiduciary duty, breach of contract, CMBS servicing disputes, corporate shareholders rights, and director and officer disputes, among others. Patrick also has led trial teams in bankruptcy litigation including adversary proceedings and core proceedings such as confirmation hearings.

He has appeared as lead counsel in state and federal courts throughout the country, including in Texas, Colorado, California, Georgia, Oklahoma, Montana, and New York and has represented clients in litigation and arbitrations throughout North and South America, Asia, and the Middle East. Patrick is a frequent speaker at various industry functions, a former member of the national board of editors of the Lender Liability Newsletter and Commercial Liability Newsletter, and was one of the first Board-Certified Civil Trial lawyers in Texas. He often serves as an expert source for news and media outlets, including participating in various radio and on-camera interviews with Bloomberg TV, local television, and other media outlets.

Experience

Workouts

  • Represent companies as sponsors of Low-Income Housing Tax Credit ("LIHTC") partnerships in which they have an equity interest where they have encountered financial shortfalls and other setbacks, whereby the negotiation of a global workout can achieve the following:
    • Termination of the construction contracts;
    • Settlement of construction claims and release of liens;
    • Termination of management agreements for the partnership projects;
    • Assignment of the development agreements;
    • Assignment of the interest in the general partner of each of the partnerships to affiliates of our client or third parties;
    • Termination or restructure of obligations under the payment and performance bonds for projects;
    • Reaffirmation of guarantee agreements;
    • Litigation arising from the foregoing; and
    • Releases by and amongst parties, excluding any reaffirmation of guaranty agreements and any other transaction specific exclusions and mutual releases by and amongst the relevant parties

Litigation

  • Represented a LIHTC partnership in defending a claim for services rendered in obtaining an extension of time to satisfy requirements for tax credits
  • Represented client in judicial foreclosure proceeding in connection with $2.6 million construction loan project in Los Angeles, California
  • Represented client in lawsuit challenging removal of two general partners from partnership and obtained an order of dismissal which was upheld on appeal in the former general partner's lawsuit for wrongful removal and breach of fiduciary duties
  • Defended company against allegations of manufacturing a scenario under which the United States Department of Housing and Urban Development ("HUD") elected to override prepayment restrictions in connection with a HUD guaranteed mortgage issued for the purchase and development of a multi-family apartment complex in Dallas, Texas
  • Represented officers and directors in litigation including claims of tortious interference and breach of fiduciary duty arising out of FDIC bank liquidation
  • Represented Delaware trustee in arbitration and liquidation of publicly held healthcare and hospitality entity
  • Represent employers and employees in litigation arising out of covenants not to compete and fiduciary duty claims including injunctive relief
  • Represent public and private corporations, board committees, directors, and officers in corporate governance litigation
  • Secured jury verdict and collected judgment amount in largest commercial fraudulent transfer judgment in Dallas County history as of date of entry of judgment
  • Defended plant owner and operator in arbitration arising out of plant shut down and force majeure
  • Defended real estate developer in arbitration arising out of breach of contract to sell real estate and specific performance
  • Represented institutional investor seeking to enforce governance rights in arbitration arising out of ownership dispute

Distinctions/Honors

  • Texas Super Lawyers® by Thomson Reuters (Business Litigation); 2016-2018

Activities (Memberships/Affiliations)

  • Member, State Bar of Texas
  • Member, New York State Bar Association
  • Member, Dallas Bar Association
  • Former Editor, Lender Liability Newsletter and Commercial Liability Newsletter