Houston-headquartered Vroom Inc. filed for Chapter 11 bankruptcy protection Thursday in the Southern District of Texas, citing about $305 million in liabilities but only $44 million in assets. An automotive finance company and digital service platform for car retailers, Vroom selected Porter Hedges as its lead legal advisor and Latham & Watkins as special advisory counsel. The company also selected Stout Risius Ross as its financial advisor and Verita Global as claims and noticing agent.
Spicey Partners Real Estate, aka Cosmed, Files for Bankruptcy in Houston
Rhode Island-based sterilization company Cosmed Group and its affiliated company Spicey Partners Real Estate have filed for bankruptcy in the Southern District of Texas.
P.S. — This Week’s Givers: Haynes Boone, Squire Patton Boggs, John DeWitt Gregory Trust and Witherite
The Dallas Bar Association’s Equal Access to Justice Campaign is about one-third of the way to its $1.4 million goal. Texas Appleseed raised $544,000 at its annual Good Apple Dinner last week, including a $1,000 donation from The Texas Lawbook. A Dallas plaintiff’s law firm is the first in the legal industry to announce it is sponsoring a Thanksgiving food giveaway. And a Squire Patton Boggs senior partner in Dallas will be honored next week for a career of professionalism.
November 14 — The Day Fulbright & Jaworski Changed the Texas Legal Landscape Forever
Fulbright & Jaworski was the biggest of the Big Three in Texas a dozen years ago. For the past century, Fulbright, Baker Botts and Vinson & Elkins reigned as the masters of corporate law in Texas. Lawyers at the trio didn’t need to do much business development because clients rushed to their offices when they needed big-time help. Fulbright and her two sister firms — all headquartered in Houston — represented Texas’ biggest businesses and wealthiest citizens. Each employed about 700 attorneys, and they reported roughly the same revenues and profits. The best students at all the Texas law schools prayed one of the Big Three would extend them an offer. Lawyers joined Fulbright and stayed until they retired. Even as national law firms dipped their toes in the Texas legal market waters, leaders at the Big Three swore they would never merge. Texas forever.
Then came Nov. 14, 2012. And everything changed.
Brown Rudnick Expands in Houston with IP Lit Practice
Brown Rudnick, a Boston-founded law firm that opened in Houston three months ago, announced Wednesday that it has added eight intellectual property litigators, including three partners, to its Texas operation.
J&J Talc Bankruptcy Judge: ‘Their Voices Must Be Heard’
U.S. Bankruptcy Judge Christopher Lopez told all sides in the Johnson & Johnson talc powder bankruptcy litigation Tuesday that he will “get a big pot of coffee” and spend the weekend in his office going through more than 11,500 disputed votes in order to get an accurate number of claimants supporting and opposing J&J’s $8.2 billion settlement plan. New Jersey-based J&J created a new Texas-headquartered subsidiary in September called Red River Talc and used a Texas law to transfer all its potential liabilities from tens of thousands of lawsuits filed against J&J by women who claim they have ovarian cancer because they used J&J’s talc powder. But there’s a dispute over 11,500 votes that were switched from voting against J&J’s forced bankruptcy plan to being in favor.
McDermott Advising Wellpath on SDTX Bankruptcy
A Nashville-based healthcare services company that focuses on treating incarcerated inmates filed for Chapter 11 bankruptcy protection in Houston Monday, claiming more than $1 billion in liabilities and an equal amount in assets. Wellpath Holdings and about 40 of its affiliated companies, which served about 3,000 in 2023 and reported revenues of $425 million, filed for bankruptcy in the Southern District of Texas. The case has been assigned to Judge Alfredo Perez.
A Texas Two-Step Showdown: J&J Talc Powder, $8B and Claims of Bankruptcy Fraud
Lawyers representing tens of thousands of women — including 465 from Dallas/Fort Worth and a total of 2,558 from Texas — will face off with each other and against pharmaceutical giant Johnson & Johnson in a Houston courtroom this week to determine the legitimacy of an $8.2 billion settlement agreement proposed by J&J to end all lawsuits brought by women who claim the company’s talc powder caused their ovarian cancer.
Trial lawyers representing thousands of the women claim the settlement is a farce and a fraudulent attempt by one of America’s most iconic and profitable corporations to use the federal bankruptcy system to force victims to accept their proposal and shield itself and its shareholders from billions of dollars more in potential liability. They and the U.S. Trustee want Judge Christopher Lopez to intervene.
The NEW Roundtable Turns 10 — A Decade of Making a Difference
Jacobs Deputy GC Chasity Henry founded the NEW Roundtable, a nonprofit that brings together in-house and outside counsel with the mission of promoting the advancement of African American women lawyers. NEW stands for Network of Empowered Women. The organization is celebrating its 10th anniversary this week with a gala. The NEW Roundtable started with Henry and about two dozen other Black women lawyers and has grown to nearly 100 members, including Black women who are in-house counsel, lawyers at law firms or in government service or in academia.
“This broad base enables us to drive impactful connections and career development across various sectors of the legal profession,” Henry said in an interview with The Texas Lawbook. “Our members’ professional achievements across the legal spectrum demonstrate that The NEW Roundtable is not just creating opportunities — it is transforming the legal landscape for Black women attorneys. Through community, mentorship, and strategic alliances, we are reshaping what is possible in the legal profession.”
The Lawbook recently interviewed Henry about the 10th anniversary of the NEW Roundtable, the successes and challenges of the organization and the legal profession regarding diversity and inclusion.
P.S. — 2024 DFW Pro Bono and Diversity Award Nominations Now Welcomed
The Association of Corporate Counsel’s DFW Chapter and The Texas Lawbook are seeking nominations for the 2024 DFW Corporate Counsel Awards for Achievement in Pro Bono and Public Service, Achievement in Diversity and Inclusion and Create Partnership. The awards recognizing pro bono and diversity celebrate the efforts and successes of corporate in-house counsel who use their positions to serve their communities and the legal profession.
This week, P.S. also highlights Texas Veterans Legal Aid Week and efforts by Texas Access to Justice, legal aid programs, local bar associations and law schools providing free legal services to qualified military veterans in Texas.