Less than a day after the company that owns Men’s Wearhouse filed for bankruptcy in the Southern District of Texas, a dental services firm also appeared on the docket in hopes of scraping some tartar off its balance sheet. What do they have in common? A Texas law firm and a bankruptcy judge in Houston federal court.
The chief lawyers at Noble Corp. and Denbury Resources chose the Southern District of Texas for their multibillion-dollar restructurings Friday. They chose Kirkland, Porter Hedges, Skadden and Jackson Walker as advisors. In an exclusive Texas Lawbook interview, Denbury GC Jim Matthews explains why he made the hires and why the Plano E&P company filed in Houston.
CPK’s $400 million debt is going to be sliced up in the Southern District of Texas.
Gibson Dunn, Haynes and Boone and Okin Adams are on the latest oil patch bankruptcies to appear on Houston federal judge David Jones’ docket.
Oilfield services firm BJ Services filed for bankruptcy Monday in the Southern District of Texas. BJ Services GC John Bakht selected Kirkland & Ellis and Gray Reed as legal advisors, PJT Partners as a financial advisor and Ankura Consulting as its restructuring advisor.
More Texas corporations filed for bankruptcy during the first six months of 2020 than in any period in the state’s history. New bankruptcy data provided exclusively to The Texas Lawbook by Androvett Legal Media research documents the extraordinary number of businesses that have filed to restructure so far this year and how the Southern District of Texas has the hottest corporate bankruptcy docket in the country.
Like many before it, the Houston-based fracking services company cited chronic hardships in the market combined with COVID-19 and the Saudi-Russian oil price war as factors for filing for Chapter 11. An oversupply of a certain premium fracking sand played a large role.
On Tuesday, Michelle Larson officially traded her law office at Carrington Coleman for black robes as the newest federal bankruptcy judge in the Northern District of Texas. But instead of a small, usually private ceremony in the courthouse, Larson was joined by 90 of her closest colleagues, friends and family on Zoom to celebrate the milestone. Natalie Posgate tuned in and has details on the momentous occasion and the Dallas bankruptcy bench’s newest jurist.
The country’s largest franchisee of two major fast food chains, a fairly new company that is the product of the No. 1 and No. 3 largest sand suppliers in the U.S. and an exit by a behemoth oilfield services company are the latest happenings on U.S. Bankruptcy Judge David Jones’ docket in the Southern District of Texas. Plus, an upcoming Ch. 11 to watch out for.
Another Texas exploration and production company has sought protection under Chapter 11 of the U.S. Bankruptcy Code. Fort Worth-based Lilis Energy filed Tuesday in the U.S. District Court in the Southern District of Texas, citing $251 million of debt.