Recent Publications

Weathering the Storm: Buyer Beware: Third Circuit’s Decision in In re KB Toys Highlights Potential Pitfalls for Purchasers of Claims from Claimants with Preference or Other Avoidance Exposure

In In re KB Toys, a recent decision by the Third Circuit Court of Appeals, the Court held that a claim that is disallowable under § 502(d) if held by the original claimant is also disallowable in the hands of a purchaser or subsequent transferee. >>



Jarom Yates

Associate

Dallas


2323 Victory Avenue
Suite 700
Dallas, Texas 75219
T +1 214.651.5139
F +1 214.200.0784

Areas of Practice

Education

  • J.D., Vanderbilt University Law School, 2009
  • B.A., Spanish Translation and English Literature, Brigham Young University, 2006

Bar Admissions

  • Texas, 2009

Court Admissions

  • U.S. District Court for the Northern District of Texas
  • U.S. District Court for the Eastern District of Texas
  • U.S. District Court for the Western District of Texas
  • U.S. District Court for the Southern District of Texas

Languages

  • Spanish
Jarom Yates

Jarom Yates is an associate in the Bankruptcy and Business Restructuring Practice Group in the Dallas office of Haynes and Boone, LLP. His practice focuses on all areas of bankruptcy, including both debtor and creditor representation.

Jarom's experience includes:

  • Represents debtors, creditors, and trustees in all types of bankruptcy proceedings.
  • Represents clients in all types of bankruptcy related litigation.
  • Assists clients acquiring assets through the bankruptcy process.

Selected Client Representations

  • Represents Hardage Hotels, I, LLC in its Chapter 11 bankruptcy case involving seven hotels.
  • Represents large property development client in bankruptcy litigation in Las Vegas, Nevada.
  • Represented Midland Loan Services, a division of PNC Bank, National Association, as special servicer for an $825 million CMBS loan, in the Innkeepers USA Trust bankruptcy cases.
  • Represented NexBank, SSB and ad hoc second lien lender group in connection with FX Luxury Las Vegas, LLC bankruptcy.
  • Represented international fast food chain in the bankruptcy of one of its franchisees.
  • Represented the senior secured lender in the Airpro Mobile Air case.

Recent Publications

  • "KB Toys Highlights Pitfalls for Bankruptcy Claims Buyers," co-author, Law360, December 4, 2013.

Selected Representative Experience


Franchisor / Landlord Litigation
Representation of a national franchisor in heavily contentious litigation with a bankrupt franchisee, who was also the tenant of the franchisor under multiple lease agreements. The firm fought to protect the franchisor's rights and to defeat the franchisee's attempts to use the bankruptcy proceedings to retain its franchise agreements and leases despite assertions of serious and repeated operational violations. Ultimately, the firm obtained a favorable settlement that succeeded in removing the franchisee from the franchise system.

Innkeepers USA Trust
Representation of Midland Loan Services, the special servicer for an $825 million mortgage debt, in the Chapter 11 case of InnkeepersUSA Trust. Innkeepers' attempt to enter into a plan support agreement regarding a debt-for-equity swap was defeated. Midland's efforts resulted in the properties being placed on the market and a substantial increase in creditor recoveries.

Bosque Power Company, LLC
Representation of Prepetition Agent and Working Group of Lenders in the 2010 Chapter 11 of Bosque Power Co LLC and its affiliates. The Texas-based electricity generation company borrowed approximately $410 million in January 2008 in part to fund a conversion of two of its combustion turbines. The Prepetition Agent and the Working Group of Lenders terminated the exclusivity period and confirmed a plan of reorganization in the fall of 2010.

FX Luxury Las Vegas, LLC - Bankruptcy
Representation of second lien agent and certain second lien (junior) lenders in the FX Luxury Las Vegas I, LLC bankruptcy case in the Las Vegas, Nevada bankruptcy court. Successfully obtained ownership for the firm's clients of a seventeen-acre property located on the Las Vegas strip across from City Center.

Online Publications

11/20/2013 - Weathering the Storm: Buyer Beware: Third Circuit’s Decision in In re KB Toys Highlights Potential Pitfalls for Purchasers of Claims from Claimants with Preference or Other Avoidance Exposure
In In re KB Toys, a recent decision by the Third Circuit Court of Appeals, the Court held that a claim that is disallowable under § 502(d) if held by the original claimant is also disallowable in the hands of a purchaser or subsequent transferee.

08/25/2011 - Law360 Guest Column: Case Study - In Re Village At Camp Bowie
Law360, New York (August 25, 2011) -- Bankruptcy Judge Michael Lynn of the Northern District of Texas recently issued a noteworthy opinion in In re Village at Camp Bowie I LP that addresses two important Chapter 11 confirmation issues.

08/11/2011 - Weathering the Storm: Bankruptcy Court Permits Minimal Artificial Impairment and Applies Investment Band Approach to Determine the Cram-Down Rate Under Till
Bankruptcy Judge Michael Lynn of the Northern District of Texas recently issued a noteworthy opinion in In re Village at Camp Bowie I, L.P. that addresses two important Chapter 11 confirmation issues.

08/16/2010 - The Lehman and Charter Attack on Ipso Facto Clauses
Congress included five sections in the Bankruptcy Code that limit the enforcement of ipso facto clauses in a bankruptcy case (“Anti-Ipso Facto Sections”).

05/12/2010 - Lehman Brothers: Priority of Collateral
On February 5, 2010, the United States Bankruptcy Court for the Southern District of New York (the “Bankruptcy Court”) issued a ruling (the “Memorandum Opinion”) creating a new wrinkle in the Lehman Brothers bankruptcy cases.
© Bloomberg Finance L.P. 2010. Originally published by Bloomberg Law Reports. Reprinted by permission.

03/31/2010 - Weathering the Storm: The Mervyn's Holdings Decision: A Lesson for Sellers and Equity Firms Participating in Leveraged Buyouts
The recent case of Mervyn’s LLC v. Lubert-Adler Group IV, LLC, et al. (In re Mervyn’s Holdings, LLC), serves as a warning to sellers and equity firms participating in leveraged buyouts to be wary of the effect such buyouts will have on creditors of the target company.