Baker Botts partner Bill Kroger knows music and Texas legal history. He needs both as he faces some monumental challenges as the new president of the Houston Bar Association. Exactly 150 years ago, Baker Botts co-founder Peter Gray was the bar’s first president. His big issue in 1870: a healthcare crisis known as the Yellow Fever, which killed thousands of people, bankrupted Texas businesses and led to an armed quarantine.
‘There is a Tsunami Coming’
More Texas businesses are filing for bankruptcy this year than during the Great Recession or anytime in the past two decades, and legal experts say the wave of insolvencies and restructurings is still far from breaking or hitting their peak. Houston has emerged as the preferred venue for large, complex restructurings for companies such as J.C. Penney and Neiman Marcus, though Dallas has a new bankruptcy judge on deck. The Texas Lawbook examines the trends and provides analysis from the top bankruptcy experts.
GC Brandy Treadway Leads J.C. Penney into Chapter 11
On Page 15 of J.C. Penney Company’s bankruptcy filing Friday late afternoon, there is the signature of the corporation’s general counsel and corporate secretary, Brandy Treadway. “Attached hereto is a true, complete, and correct copy of the resolutions of the Board of Directors of the Company.” Here is a profile of J.C. Penney’s GC, who will play a critical role in the retailer’s restructuring.
The Texas Middle Market – Flat or Firm, Stable or Stale?
There are seven middle market corporate law firms in The Texas Lawbook 50 in 2019 – down from nine a year earlier. They employed 721 corporate lawyers and generated $452 million in revenues. Some had record years. Others restructured. Legal industry analysts say these firms are a throwback to old-fashioned legal practices when lawyers were actually counselors for their business clients, and they might just thrive in this new crisis environment. Updated to include correction.
SCOTX Bill Brewer Sanctions Opinion ‘May Do Incalculable Damage to Jury System’
Four prominent trial organizations representing more than 10,000 lawyers in Texas filed a brief Friday asking the Texas Supreme Court to reverse an opinion it issued two weeks ago that tossed out sanctions against Dallas lawyer Bill Brewer for allegedly trying to taint the jury pool in one of his cases. “This opinion appears to set a new and disturbing standard,” the brief states.
The Last Trial of T. Boone Pickens: Q&A with Authors Chrysta Castañeda and Loren Steffy
There were few more colorful characters in the corporate world than T. Boone Pickens. Chrysta Castañeda and Loren Steffy got to know him well – Castañeda as his lawyer representing him in a major trial in West Texas and Steffy as a long-time journalist who interviewed the oilman several times over three decades. The Texas Lawbook conducted a virtual interview with the duo.
They Came, They Fought, They Conquered – The Facts Behind National Law Firms’ Invasion of Texas
For the first time ever, Texas lawyers for national law firms made more money – $3.48 billion – than their Texas-based competition in 2019, according to new Texas Lawbook data. The 16 fastest growing corporate law firms in Texas during the past five years are all headquartered outside of the state. “We saw the writing on the wall,” said Shearman’s Hugh Tucker.
Monica Latin: ‘Picking Your Law Firm is Like Picking Your Spouse’
Carrington Coleman has a new managing partner this week: Monica Latin, who has been the firm’s head of litigation. “We had an official passing of the torch Friday on an all-firm Zoom,” Latin told The Texas Lawbook in an interview Sunday. “We thanked Bruce [Collins] for his eight years of incredible leadership.”
Texas Legacy Firms: 2019 Was Good, 2020 May Be Make or Break
A dozen of the 17 Texas-based corporate law firms on The Texas Lawbook 50 generated more money in 2019 than they did the year before. Seven scored record high revenues. Some increased income more at their non-Texas offices. This year, however, the leaders at most of the Texas firms are just hoping they make 70-cents on last year’s dollar. The Lawbook provides an in-depth look at Texas firm finances.
Updated – Perkins Coie Names Austin Office Managing Partner, Adds Longtime In-house Counsel
Jose C. Villarreal, a trial lawyer who focuses on IP disputes, will lead the firm’s recently-opened office in the state capital. The firm has also added Dallas attorney John Trevino, a leader in the Texas Hispanic legal community.