Weil Bankruptcy Lawyer Dies of Cancer
Esteemed bankruptcy lawyer Stephen Youngman, who worked on the historic American Airlines Chapter 11 restructuring, died Monday “after a courageous battle with cancer,” firm officials said.
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.
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.
Updated – Winstead Beefs Up Restructuring and Bankruptcy Bench in Dallas
Winstead announced Monday it has lured a team of three bankruptcy shareholders from Munsch Hardt in Dallas.
Houston Bankruptcy Partner Laterals to Jones Walker
Joe Bain was previously at Edison, McDowell & Hetherington.
Perkins Coie Taps Dallas Partner John Penn to Lead Bankruptcy and Restructuring Practice
Penn is a fellow of the American College of Bankruptcy and past president of the American Bankruptcy Institute.
Husch Blackwell Advises Dairy Queen Franchisee in Bankruptcy
Irving-based Dairy Queen franchisee Vasari has filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Northern District of Texas. Varasi, which is closing 19 operations in Texas, turned to Husch Blackwell partner Vickie L. Driver and senior counsel Christina W. Stephenson as its restructuring advisers.
Bankruptcy Judge Approves Oncor Deal with Sempra
U.S. Bankruptcy Judge Christopher Sontchi has given his approval for Energy Future Holdings to sell its 80 percent ownership stake in Oncor to Sepra Energy for $9.45 billion in cash. The judge’s thumbs up means the deal heads to the Texas Public Utility Commission, which is the regulatory authority that must give its blessing before the deal can be final.
Analysis: How New Bankruptcy Rules Will Impact Financial Institutions
Significant changes to federal rules governing the administration of consumer bankruptcy cases – and Chapter 13 cases in particular – are set to take effect Dec. 1. In the meantime, the bankruptcy bench and bar for each district will be busy ensuring their rules and forms are in compliance. This article highlights the major rule changes and what they will mean for creditors in bankruptcy cases.