DBJ: Popular DFW Restaurant Chain Exits Bankruptcy
The buffet-style pizza chain has emerged from the U.S. Bankruptcy Court for the Northern District of Texas in less than two months after filing for Chapter 11.
Baker Botts Leads Griddy Energy Into Bankruptcy
Griddy Energy, a retail power supplier facing a slew of civil lawsuits as a result of charges from the February winter storm, says it has less than $10 million in assets but owes ERCOT, CenterPoint Energy and Oncor three times that amount.
Alamo Drafthouse Files for Bankruptcy
The Austin-based movie theater chain — known as a pioneer for the dine-in-theater experience — is the latest indoor, consumer-oriented business to fall prey to the financial woes of the Covid-19 pandemic. Natalie Posgate details where the company filed and who from Texas has appeared in the case.
Okin Adams Advises on Castex Energy ‘Chapter 22’ Bankruptcy
In the world of corporate bankruptcy and restructuring, they call it Chapter 22. For the second time in four years, Houston-based oil and gas exploration and drilling company Castex Energy has filed for protection under Chapter 11 of the U.S. Bankruptcy Code in the Southern District of Texas.
Brazos Electric Coop Files for Bankruptcy
Last week, Brazos Electric Power Cooperative got a $2 billion bill from ERCOT demanding payment for power supplied during the winter storm that hit Texas two weeks ago. Early this morning, Brazos, the largest generation and transmission cooperative in Texas, filed for Chapter 11 bankruptcy protection in the Southern District of Texas citing more than $3 billion in debts.
District Judge Considers Taking Adversary Bankruptcy Case Amid Threats of Calling the Feds
A federal judge in Houston is considering whether to take over an explosive adversary proceeding currently in U.S. Bankruptcy Judge Marvin Isgur’s court that may result in Isgur calling the U.S. Attorney’s Office on one of the parties.
Jackson Walker & Kirkland Strike Again With New 9-Figure Chapter 11 Filing
With a large amount of unsecured creditors who hail from Dubai and Saudi Arabia, Asia Offshore Drilling says it's looking to clear between $100 million and $500 million in debt.
J.C. Penney and Neiman Marcus Paid $100M in Bankruptcy Fees to Lawyers & Bankers
Neiman Marcus filed for bankruptcy on May 7. Eight days later, J.C. Penney petitioned for Chapter 11 bankruptcy protection. Even before they filed, the two DFW retailers had paid legal and financial advisors $30 million to prepare the case. And those fees were only the start. The Texas Lawbook has details.
DBJ: Pizza Buffet CiCi’s Files for Bankruptcy
The Irving-based pizza chain filed for bankruptcy after more than a decade of gradual decline and the effects of the Covid-19 pandemic, it said in court records.
DBJ: Studio Movie Grill Founder Discusses Bankruptcy, Future of the Chain
Dallas Business Journal reporter Catherine Leffert recently visited with Studio Movie Grill Founder Brian Schultz, who called the bankruptcy process an "emotional rollercoaster."
Bankruptcy Experts: Middle Market’s ‘Day of Reckoning is Coming’
Corporate bankruptcies in Texas shattered all records during the first 11 months of 2020, as the Covid-19 pandemic and struggles in the oil patch sent an historic number of large, multibillion-dollar companies rushing to federal court to restructure. All that changed in December, as Chapter 11 business bankruptcies plummeted more than 60% from November. But bankruptcy experts see a second blitz of bankruptcies – this time filed by middle market and smaller companies, which will be much more difficult to restructure – hitting the Texas courts in Q2 and Q3 2021.
DBJ: Adeptus Health’s Flawed Business Model, COVID-19 Contributed to Bankruptcy, Expert Says
The Irving-based operator of First Choice ER, the oldest and largest freestanding emergency-room network in the country, faces a rocky road to liquidation. Bill Hethcock of the Dallas Business Journal has the story.