Free Speech, Due Process and Trial by Jury
In this article, lawyers from King & Spalding say that although the recent wave of oil and gas bankruptcies has crested and prices have somewhat rebounded, the Second Circuit’s decision may have a lasting impact on future bankruptcies in the industry.
Russell Mills lateraled over from Hiersche, Hayward, Drakeley & Urbach.
The time has come to eliminate venue shopping in corporate bankruptcies and restructuring. Based on my first-hand experience leading American Airlines' corporate restructuring in a distant locale, it is my view that Congress should amend the bankruptcy laws and eliminate venue shopping. U.S. corporations should be required to file bankruptcy cases in their hometown jurisdiction. This exclusive Texas Lawbook article explains why.
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.
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.
Lenard Parkins was most recently at Greenberg Traurig.
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.
Winstead announced Monday it has lured a team of three bankruptcy shareholders from Munsch Hardt in Dallas.
Joe Bain was previously at Edison, McDowell & Hetherington.
Penn is a fellow of the American College of Bankruptcy and past president of the American Bankruptcy Institute.
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