© 2016 The Texas Lawbook.
By Brooks Igo
(Dec. 6) – McKool Smith recently announced that veteran bankruptcy litigator Nicholas Foley has joined the firm’s Dallas office as a principal.
Foley, who previously was a name partner at the Dallas law firm Neligan Foley, praised the resources, intellectual capital, experience and national presence at his new firm.
“These guys are real trial lawyers,” he said. “They are willing to go to the mat all the way through to trial. That has to be a good feeling for a client.”
The SMU Dedman School of Law alumnus has been involved in high-profile insolvency-related litigation. He represented receivers in matters arising from the Stanford Ponzi scheme and was involved with the Idearc bankruptcy, where he advised the receiver for Idearc Litigation Trust.
Foley, noting the number of law firms involved in the Stanford case, says one of the advantages of a firm like McKool Smith is that it can serve as a “one-stop shop” for a trustee in litigation of similar size and complexity.
Another aspect of McKool Smith that Foley is excited about is the firm’s willingness and ability to take on high-stakes litigation on a contingency basis.
“That is attractive in the insolvency world,” he said. “Normally, clients do not have the resources to pursue a case all the way through.”
Foley expects to see an increase in work coming out of the bankruptcies in the oil and gas sector.
He is also paying close attention to which industries will be adversely affected by the new presidential administration. For example, he points out that healthcare is 12 percent of the U.S. economy.
“A small fallout can have a big ripple effect,” he said.
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