Kirkland and Weil Litigate Through a Classic Case of Afflictio Duplex

For a year, Bankruptcy Court in Houston has been the setting for A Tale of Two Calamities. A raging disease and a crippled economy tugged the court in two directions. Wave after wave of businesses sought haven from creditors. Covid-19 rendered the court uninhabitable, but also made it indispensable. A flood of cases and no courtrooms in which to try them. Along came two trial lawyers from the two most competitive law firms in the corporate bankruptcy space. This is their story.

March 24, 2021 Bruce Tomaso

DBJ: Fort Worth Real Estate Firm Files for Bankruptcy

The Fort Worth company is represented by a solo attorney and lists assets ranging from $0 to $50,000 and debts ranging from $1,000,001 to $10,000,000.

March 22, 2021 Bill Hethcock of the Dallas Business Journal

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.

March 19, 2021 Catherine Leffert of the Dallas Business Journal

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.

March 15, 2021 Mark Curriden

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.

March 3, 2021 Natalie Posgate

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.

March 2, 2021 Mark Curriden

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.

March 1, 2021 Mark Curriden

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.

February 12, 2021 Natalie Posgate

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.

February 9, 2021 Natalie Posgate

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.

February 8, 2021 Mark Curriden & Makenna Brooks