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Debtors

In a bankruptcy or workout, multiple parties compete for limited resources. Our reorganization lawyers have represented individual, partnership, and corporate debtors in reorganization proceedings in many industries, including oil and gas, energy, real estate, financial, chemical, automotive, retail, mineral extraction, airline, and numerous forms of service industries.

Overview

In a bankruptcy or workout, multiple parties compete for limited resources. Our reorganization lawyers have represented individual, partnership, and corporate debtors in reorganization proceedings in many industries, including oil and gas, energy, real estate, financial, chemical, automotive, retail, mineral extraction, airline, and numerous forms of service industries.

We are experienced in valuation issues, disclosure statements, and plan confirmation issues. Additionally, our attorneys have obtained many confirmed plans in debtors’ cases, most in record time, with substantial payments to creditors.

Ranked among the top firms in Texas for Bankruptcy/Restructuring in Chambers USA 2019 by Chambers and Partners

National tier-one ranking in Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law in “Best Law Firms” 2019 by U.S. News-Best Lawyers®

Represent individual, partnership, and corporate debtors in reorganization proceedings in many industries

Experience

  • Represented Parallel Energy LP, as debtor, in its Chapter 11 bankruptcy case, which was filed to facilitate a sale process initiated prior to bankruptcy
  • Represented Cano Petroleum Inc., as debtor, in its Chapter 11 bankruptcy case; obtained confirmation of plan of reorganization
  • Represented a public refinery and gas distribution company, as debtor, and obtained confirmation of a pre-packaged plan within five months of filing; cited as the most successful pre-packaged plan in United States history with respect to retention of equity ownership interests
  • Represented Davis Petroleum Corp., as debtor, and confirmed a prepackaged “payment in full” plan of reorganization with $150 million of debt in three days
  • Represented both Baseline Oil & Gas and Cross Canyon Energy Corp. in two separate bankruptcies involving pre-negotiated and pre-packaged plans of reorganization, and both companies exited from bankruptcy in less than 60 days; Baseline was one of the 10 fastest pre-packs to be confirmed, with confirmation taking place in 28 days
  • Represented the debtor in the Southmark case, which involved a significant integrated financial services company in the real estate development and syndication, insurance, and thrift businesses, with over $12 billion in liabilities; it stands as one of the largest bankruptcy cases ever filed
  • Represented Tri-Union Development Corporation I, as debtor, in a case that involved a unique $130 million bond private offering that provided exit financing for a Chapter 11 debtor, a first for the industry; all creditors were paid in full (unimpaired)
  • Served as special litigation counsel to the debtors in the Paladin-Hayes I & II Ltd. cases in the confirmation litigation regarding competing plans
  • Represented the debtors regarding Texas Oil & Gas Company, in which a plan of reorganization was confirmed with substantial return to the trade creditors
  • Represented the debtors regarding Crescent Machinery Company, a construction equipment sales, leasing, and service company with approximately 14 branch locations in six different U.S. states, and obtained confirmation of a plan of reorganization