The Southern District of Texas has been a hub for corporate bankruptcies for some time, but even more so now as energy companies continue to be crippled by the one-two punch of the coronavirus outbreak and oil price war. Natalie Posgate explains the circumstances behind three new energy bankruptcies in Houston and identifies their lawyers.
J.C. Penney Files For Chapter 11
Ending weeks, even months, of speculation, Texas-based retailer J.C. Penney filed for Chapter 11 bankruptcy protection late Friday in the Southern District of Texas. Natalie Posgate reports.
Colorado E&P Company Files for Chapter 11 in Houston
Colorado-based Ultra Petroleum is one of the latest energy companies to file for bankruptcy amid the COVID-19 and oil pricing crises. The restructuring is another example of Kirkland and Jackson Walker teaming up. Natalie Posgate has the details.
Updated: Exxon’s $77M SDTX Environmental Trial Goes Virtual
Exxon Mobil and the federal government were in the midst of a $77 million bench trial in Houston when the proceedings were interrupted by COVID-19. Instead of waiting to return to court, the parties chose to finish out the trial electronically. And while there has been no decision on the environmental dispute involved, there has been a ruling on the electronic bench-trial experience. Natalie Posgate has the verdict.
Dallas Firm Reaches $52M Settlement for Facebook Workers Suffering From PTSD
The plaintiffs alleged that their repeated exposure to violent and graphic content — child sexual abuse, beheadings, terrorism, animal cruelty and other disturbing images — have caused them PTSD and other psychological issues. The settlement, obtained by Burns Charest, is considered “a first of its kind” because it also provides workplace reform in addition to monetary relief.
Kirkland-Jackson Walker Duo Strike Again in New Department Store Chapter 11 Filing
The romance continued Sunday evening between Jackson Walker and Kirkland & Ellis as the bankruptcy duo filed a Chapter 11 corporate restructuring petition on behalf of Houston-based department store chain Stage Stores, which operates Bealls, Palais Royal and others.
Dallas Law Firm Helps Furloughed Tenant Get TRO Against Relentless Landlord
When a furloughed mother-of-two in the Houston area was not able to make rent April 1, her landlord called and texted more than 267 times over the next month — even suggesting she take up prostitution to come up with the money. But a group of attorneys from Crawford, Wishnew & Lang swept in on a pro bono basis and successfully obtained a TRO for the tenant this week. They say the case makes their “blood boil.” Natalie Posgate explains why.
It’s Official: Neiman Marcus Files for Bankruptcy – Updated
The much-anticipated move by the luxury retailer involved 24 separate entities filing in the Southern District of Texas. Natalie Posgate has the names of lawyers and bankers involved.
Texas Lawyers Advising on J.Crew Bankruptcy
J.Crew is the first of an expected wave of major brand names to file for bankruptcy as the COVID-19 pandemic continues to keep retailers’ doors shuttered. J.Crew’s Chapter 11 features prolific Dallas litigators and a private equity owner with Texas roots.
Gold’s Gym Files for Bankruptcy in Dallas
The Dallas-based company has tapped lawyers at Dykema to lead it through Chapter 11. Natalie Posgate reports on this story and another bankruptcy filing by a Dallas men’s clothier.