Steve Pezanosky Discusses Auto-Industry Bankruptcies in Fort Worth Star Telegram

04/13/2009

Carmakers' Bust is Boon for Lawyers
Fort Worth Star Telegram

The prospect of auto-industry bankruptcies isn’t bad news for everybody.

Haynes and Boone, a Dallas-based law firm with a Fort Worth office, has landed a Treasury Department contract worth up to $8.59 million to help restructure struggling automakers.

Two New York-based firms also received similar Treasury contracts for the same amount, according to Steve Pezanosky of Fort Worth, who heads the firm’s bankruptcy and business-reorganizing section.

The firms will provide advice on restructuring and debtor-in-possession financing for auto companies and suppliers, according to American Lawyer.

With General Motors and Chrysler on the brink of bankruptcy, there’s plenty of work for the firm’s approximately 40 bankruptcy lawyers under the six month contract.

"We have a broad range of experience," Pezanosky said. "I think it’s a significant achievement for the firm."

Article excerpted from Fort Worth Star Telegram.

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