Stephen Manz is an associate in the Bankruptcy and Business Restructuring Practice Group in the Dallas office of Haynes and Boone, LLP.
- "Fall Down - Go Boom! Lessons from the Mega Cases 2008-2010," Co-Author with Robin Phelan, Eric Terry and Abigail Ottmers, 2010 Southeastern Bankruptcy Law Institute Seminar, March 19, 2010.
- "Trashing the Promenade, The Company Town, The Dead Debtor and Many Other Recent Anomalies and Contradictions From Bankruptcyland," Co-Author with Robin Phelan, Eric Terry and Abigail Ottmers, 2010 Southeastern Bankruptcy Law Institute Seminar, March 18, 2010.
Selected Representative Experience
Representation of a national bank in its workout and collections efforts regarding agricultural loans throughout Texas and the Southwest. We work to protect our client’s interests in all possible venues and situations involving troubled debtors, including bankruptcies, out-of-court workouts and restructurings, and state court collections litigation.
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.
01/24/2013 - Weathering the Storm: No Safe Harbor for You Because Distributing the Proceeds of a Sale of Securities Isn't "In Connection With" a Securities Contract According to Grede v. FCStone
On January 4, 2013, the United States District Court for the Northern District of Illinois, Eastern Division (the “District Court”) issued a Memorandum Opinion and Order that seems demonstrably at odds with the majority of cases analyzing the § 546(e) safe harbor provision.
07/25/2011 - Weathering the Storm: Second Circuit Affirms an Expansive Interpretation of Section 546(e) of the Bankruptcy Code
On June 28, 2011, in In re Enron Creditors Recovery Corp. v. Alfa,
the Second Circuit Court of Appeals held that Enron’s redemption of its commercial paper prior to maturity fell within the definition of a “settlement payment” and was protected from avoidance under § 546(e)’s safe harbor provision in Title 11 of the United States Code.
07/05/2011 - The Supreme Court Holds Unconstitutional a Key Provision of the Bankruptcy Code
On June 23, 2011, the Supreme Court handed down a 5-4 decision in the Stern v. Marshall
holding that a bankruptcy court’s exercise of statutory jurisdiction was unconstitutional when it adjudicated a counterclaim relating to a purely state law cause of action.
02/15/2011 - Weathering the Storm: Good News For Lenders – District Court Reverses TOUSA Fraudulent Transfer Opinion
In a welcome bit of good news for lenders, U.S. District Court Judge Gold (Southern District of Florida) reversed the portion of the 2009 bankruptcy court decision in the TOUSA, Inc. bankruptcy cases that had ordered the disgorgement of $403 million plus interest based on the holding that the amounts were received by certain lenders to the TOUSA parent in connection with a pre-petition transaction that constituted a fraudulent transfer.
03/19/2010 - Fall Down - Go Boom! Lessons from the Mega Cases 2008-2010
Presented at the 2010 Southeastern Bankruptcy Law Institute Seminar, March 19, 2010.
03/18/2010 - Trashing the Promenade, The Company Town, The Dead Debtor and Many Other Recent Anomalies and Contradictions From Bankruptcyland
Presented at the 2010 Southeastern Bankruptcy Law Institute Seminar, March 18, 2010.