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.
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Updated – Akerman Adds Dallas Investor Recovery Specialists
Eduardo Espinosa and Michael Napoli lateraled over from Dykema.
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.
Beck Redden Announces New Executive Director
Katie Tullis was the firm administrator for Greer, Herz & Adams for the past five years.
CDT Roundup: Only 15 Deals? Are We Already On Spring Break?
Two monster power deals–one involving four years of negotiation– ended quietly last week. So did a tepid week of new deals in Texas. The deals were far-flung and diverse, but at $3.3 billion over 15 transactions, Lone Star billables made us believe that someone was getting ready for Spring Break. Claire Poole bears both the bad news and the sordid details in The Texas Lawbook.
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.
Mayer Brown Grows Houston Litigation Practice
Jon Rice is the second partner to leave Norton Rose Fulbright for Mayer Brown this year.
SEC Charges North Texas Energy Firm, Execs with Securities Fraud
The SEC’s Fort Worth office has charged Dallas-based Americrude and two of its executives with defrauding 17 investors out of $950,000 in an oil and gas offering scheme. The alleged scammers created a boiler room of sales employees who cold called potential investors, “using a combination of high-pressure and deceptive sales pitches and false and misleading offering materials.” The Texas Lawbook has details.
Updated – CHRISTUS Health CLO Moves to Bracewell
Nancy LeGros led a legal department that advised on strategic transactions in the United States and Latin America; conducted regulatory investigations; advised on establishment of Medicare Advantage and Healthcare Exchange plans; implemented a physician contract management system; assumed management of all claims and litigation; and advised senior leadership and multiple boards of directors on compliance and governance matters.