In this article, lawyers from King & Spalding say that although the recent wave of oil and gas bankruptcies has crested and prices have somewhat rebounded, the Second Circuit’s decision may have a lasting impact on future bankruptcies in the industry.
Weil Bankruptcy Lawyer Dies of Cancer
Esteemed bankruptcy lawyer Stephen Youngman, who worked on the historic American Airlines Chapter 11 restructuring, died Monday “after a courageous battle with cancer,” firm officials said.
iHeartMedia Taps Kirkland, Jackson Walker as Debtor’s Counsel
iHeartMedia General Counsel Robert Walls chose Kirkland & Ellis and Jackson Walker to guide the San Antonio-based radio giant through corporate restructuring. iHeartMedia filed Thursday in U.S. Bankruptcy Court in Houston for protection under Chapter 11.
EFH Bankruptcy Legal & Financial Advisor Fees to Near $1 Billion
The bankruptcy case of Energy Future Holdings is essentially over, but the millions of dollars in fees being paid to lawyers and financial advisers are likely to continue for a few more months. New research by The Texas Lawbook shows that law firms, banks and consultants working on the EFH restructuring have received so far more than $600 million, making it one of the most complex and expensive corporate bankruptcies in U.S. history. The final price tag could approach 10-digits.
Kilpatrick Townsend Adds Houston Bankruptcy & Restructuring Pro
Lenard Parkins was most recently at Greenberg Traurig.
A Three-Minute Call & Two Multi-Billion-dollar Wire Transfers – EFH Closes Oncor Sale to Sempra & $42B Bankruptcy Ends
At 7:03 a.m. Friday, Energy Future Holdings GC Andy Wright leaned into a conference room phone on the 41st floor of Energy Plaza in downtown Dallas and spoke six simple words: “EFH has signed off. We release.” Two hours later, two wire transfers totalling $9.4 billion were received. At 9:34 a.m., EFH officially sold its 80 percent ownership in Oncor Electric and the four-year-long, $42 billion corporate bankruptcy came to an end.
The Texas Lawbook was in the conference room and provides exclusive details about one of the most complex and expensive business bankruptcies in U.S. history.
Updated – Winstead Beefs Up Restructuring and Bankruptcy Bench in Dallas
Winstead announced Monday it has lured a team of three bankruptcy shareholders from Munsch Hardt in Dallas.
Texas Business Bankruptcies Skyrocketed in 2017, Debt Hits ‘Height of Debt Lunacy’
Texas companies restructuring in federal bankruptcy court jumped more than 42 percent in 2017, nearly reaching the highs of the Great Recession eight years ago. Filings for Chapter 11 bankruptcy protection in 2017 skyrocketed to record levels in the Southern District of Texas and near record levels in the Northern District. Some corporate restructuring experts predict there could be another wave of bankruptcies filed by Texas businesses burdened with historic levels of debt.