Chris Castillo is an associate in the Bankruptcy and Business Restructuring Practice Group in the Houston, Texas office of Haynes and Boone, LLP. His practice focuses on bankruptcy and insolvency law and related litigation, and includes the representation of Chapter 11 debtors, secured and unsecured creditors, as well as other parties-in-interest in business reorganization and bankruptcy situations. Representative experience includes:
- Representation of Americas Mining Corporation as corporate parent and successful plan proponent in multi-billion dollar, multi-week contested confirmation hearing.
- Representation of debtors Pisces Energy, LLC and Palm Energy Partners, LLC in successful Chapter 11 reorganization of oil and gas operations.
- Representation of reorganized ASARCO LLC in post-confirmation claims, substantial contribution and other related litigation.
- Representation of secured and unsecured creditors and various other parties-in-interest in oil and gas bankruptcies and other bankruptcy cases and related litigation.
- Representation of debtor in bankruptcy case involving cross-border and insolvency problems in Mexico.
Recent Publications
- "Bankruptcy in the Oil Patch," with Charles A. Beckham, Jr., University of Houston Law Foundation Advanced Oil and Gas Short Course, February 6 & 13, 2009.
- "Weathering the Storm: Charter Communications Decision Allows Reinstatement of Debt," Haynes and Boone alert, December 11, 2009.
Selected Representative Experience
South Edge
Representation of one of three petitioning creditors who were members of a bank group owed approximately $328 million (in principal) by a Nevada real estate development, South Edge.
TXCO Resources - Newfield Exploration Co.
Representation of Newfield Exploration Co. in purchase of assets in the Maverick Basin of Southwest Texas from TXCO Resources Inc., a San Antonio-based oil and natural gas exploration and development company. Newfield and the Anadarko Petroleum Company purchased substantially all the assets of TXCO for $310 million pursuant to an order of the United States Bankruptcy Court for the Western District of Texas.
Chapter 11 Representation - ASARCO LLC
Represent Americas Mining Corp., the corporate parent of ASARCO LLC, a copper miner and smelter which filed for Chapter 11 bankruptcy protection in Corpus Christi, Texas with approximately $10 billion in claims. Following Chapter 11 filing, ASARCO filed a fraudulent transfer action against Americas Mining Corp., seeking recovery of several billion dollars. Successfully confirmed parent's plan in three-week contested confirmation hearing resulting in dismissal of all fraudulent transfer claims.
Online Publications
11/15/2010 -
Weathering the Storm: Buyer Beware, Fifth Circuit Rules Purchasers of Reorganized Debtors Liable for Undervalued Claim
In an October 19, 2010 opinion arising out of the Scotia Pacific bankruptcy cases, the Fifth Circuit ruled that reorganized Scotia and its affiliate Pacific Lumber Company were obliged – nearly 2½ years after Scotia’s reorganization plan was consummated – to pay Scotia’s former secured lenders approximately $30 million on account of a mistake made by the bankruptcy judge in calculating the amount owed to the secured lenders for the use of their collateral during the bankruptcy cases.
12/11/2009 -
Weathering the Storm: Charter Communications Decision Allows Reinstatement of Debt
Many companies secured their financing several years ago when the credit market featured advantageous pricing and loose loan covenants. Because these favorable terms would be impossible for borrowers to obtain in today’s lending environment, many viable companies with highly leveraged capital structures are looking for strategies to restructure debt. Charter Communications (“Charter”), the country’s fourth largest cable television company, took a gamble during, arguably, the most challenging period in the modern era of global corporate finance. See how the company's bold moves paid off.