In the News

Robin Phelan To Be Featured at ABI’s 19th Annual Southeast Bankruptcy Workshop

DALLAS – Haynes and Boone, LLP Senior Counsel Robin Phelan will again appear as deranged investor Boris Badenough at the 19th annual American Bankruptcy Institute (ABI) Southeast Bankruptcy Workshop in a segment entitled, “Disclosure? We Don’t Need No Stinking Disclosure! Rule 2014 and Conflicts of Interest.” >>

Haynes and Boone Lawyers Repeat Strong Showing in D Magazine’s Best Lawyers List

DALLAS D Magazine has once again recognized Haynes and Boone, LLP lawyers in its annual “Best Lawyers of Dallas” list of top local legal talent. >>

Chambers Continues to Award Haynes and Boone Talent High Marks in Global Directory

After a year in which Haynes and Boone, LLP widened its global reach with offices in China and Brazil, Chambers Global 2014 broadened its recognition of the firm by singling out 13 lawyers and five practices for praise in its highly regarded directory of recommended legal services.

Editors praised Haynes and Boone efforts on multiple fronts from the United States to Latin America to Mexico City. >>



Recent Publications

Weathering the Storm: Fisker Delivers a "Buyer Beware" Warning to Lenders and Purchasers of Secured Claims Seeking to Credit Bid

On January 17, 2014 the Bankruptcy Court for the District of Delaware issued a ruling in Fisker Automotive Holdings, Inc., et. al., Case No. 13-13087 (KG), which highlights potential risks to both secured creditors and purchasers of claims in bankruptcy section 363 sales. >>



Robin E. Phelan

Senior Counsel

Dallas


2323 Victory Avenue
Suite 700
Dallas, 75219
T +1 214.651.5612
F +1 214.200.0649
M +1 214.704.0222

Áreas de Practica

Educación

  • J.D., Ohio State University, 1970, cum laude
  • B.S.B.A., Accounting and Finance, Ohio State University, 1967

Bar Admissions

  • Texas, 1971
  • Michigan, 1970
Robin E. Phelan

Robin Phelan's practice is exclusively devoted to insolvency, reorganization and related areas, including extensive litigation in the bankruptcy court and other federal courts. He works with other Haynes and Boone attorneys to analyze the effect of bankruptcy on corporate and financial transactions. Robin is a frequent speaker on panels and programs throughout the United States and internationally regarding developments in bankruptcy and insolvency law and is the author of numerous publications, several relating to tax, intellectual property, financial contracts, international issues, governmental and environmental claims. He is a contributor to major treatises on bankruptcy and has testified before both the Congressional Bankruptcy Review Commission and the United States Congress on insolvency matters. He has participated in a program sponsored by the United States Department of State and the United Nations to develop model cross border insolvency provisions, has been a delegate to the United Nations Commission on International Trade Laws and has participated in a White House program to improve the United States bankruptcy system.

Mr. Phelan: 

  • Represents debtors and creditors in all types of bankruptcy and insolvency proceedings ranging from sole proprietors to major publicly-held companies such as Zale's, LTV, Hawaiian Airlines, Greyhound, Fruehauf, Enron, Adelphia, Idearc and Mirant. 
  • Works with clients acquiring financially troubled businesses and has acted as an operating trustee in bankruptcy cases. 
  • Successfully reorganized an environmentally challenged manufacturer by creating liquidating trusts beneficially owned by the State of California. 
  • Has consulted with representatives of the Ministry of Justice of Indonesia regarding amendments to the Indonesian Bankruptcy Law. 
  • Structured multiple pre-negotiated Chapter 11 cases in connection with the largest insurance company reorganization in the United States.

Recent Publications and Presentations

  • "Disclosure? We Don’t Need No Stinking Disclosure! Rule 2014 and Conflicts of Interest," panelist, 19th Annual Southeast Bankruptcy Workshop, Amelia Island, Florida, July 24-27, 2014.
  • "Welcome Furriner, I’ll Keep Your Intellectual Property: The Manifestly Contrary to Public Policy Exception," panelist, International Insolvency Institute's 14th Annual Conference, Mexico City, Mexico, June 9-10, 2014.
  • "Unspeakable Evil: Preference and Fraudulent Transfer Claims," International Energy Credit Association 2014 Spring Conference, San Antonio, Texas, April 6-8, 2013.
  • "Survey Questions Concerning Treatment of Intellectual Property Licenses under National Bankruptcy Regimes and Laws," Fourth UNCITRAL International Insolvency Law Colloquium, Vienna, Austria, December 16-18, 2013.
  • "Past Presidents Policy Debate: Resolved, that the Chapter 11 Model is no Longer Viable for Middle Market Businesses," ABI 25th Annual Winter Leadership Conference, Rancho Palos Verdes, California, December 5-7, 2013.
  • "Forrest Gump and Bankruptcy: Stupid is as Stupid Does," Oklahoma Bar Association's 28th Annual Advanced Bankruptcy Seminar, Oklahoma, December 5-6, 2013.
  • "'Grede' is Good: Wall Street Welcomes Recent Bankruptcy Safe Harbor Developments," panelist, American College of Bankruptcy, Miami, Florida, October 21, 2013.
  • "Welcome Furriner, Now Go Away: The Manifestly Contrary to Public Policy Exception," ABA Section of International Law 2013 Fall Meeting, London, England, October 15-19, 2013.
  • "A Paucity of Pesos - Cross Border Insolvency Issues with Mexico," Haynes and Boone Cross-Border Insolvency and Restructuring Event, Houston, Texas, October 2, 2013, and September 17, 2013.
  • "A Magical Marriage, or Is He Just a Troll? The Divorce of Boris Badenough," panelist, American Bankruptcy Institute 18th Annual Southeast Bankruptcy Workshop, Amelia Island, Florida, July 18-21, 2013.
  • "Down the Rabbit Hole of IP Solvency," panelist, Licensing Executives Society - Houston Chapter, Houston, TX, July 18, 2013.
  • "Granting and Refusing Recognition in Model Law and Chapter 15 Cases," International Insolvency Institute - 13th Annual Conference, New York, New York, June 16-18, 2013.
  • "Down the Rabbit Hole of IP Insolvency," panelist, Licensing Executives Society Webinar, Dallas, Texas, June 12, 2013.
  • "An Ounce of Prevention is Worth a Pound of Burgers: How to Manage the Risk of Franchise Failures by Advance Planning and Negotiated Creditor Agreements," panelist, International Franchise Association 46th Annual Legal Symposium, Washington, D.C., May 5-7, 2013.
  • "BK 360 Revisted: ABA Past-Presidents Panel," panelist, American Bankruptcy Institute 31st Annual Spring Meeting, National Harbor, Maryland, April 18-21, 2013.
  • "I’m Shocked – Shocked! – to Find that Unethical Conduct is Going On in Here!: A Tale of Ethics in Bankruptcy," panelist, American Bankruptcy Institute, 24th Annual Winter Leadership Conference, November 29 – December 1, 2012.
  • "Hello Furriner, How Can I Help You? An Overview of Cross Border Insolvency and Chapter 15 of the United States Bankruptcy Code" and "Welcome to America, Now Go Away: The Chapter 15 Manifestly Contrary to Public Policy Exception," panelist, University of Texas – School of Law Continuing Education, 2012 Jay L. Westbrook Bankruptcy Conference, November 8-9, 2012.
  • "Cross Border Recognition Issues Between U.S. and Mexico," panelist, American Bankruptcy Institute, 2012 U.S. – Mexico Restructuring Symposium, November 7, 2012.
  • "Out of Court vs. In Court," "Out-of-Court Restructuring," "Bankruptcy Reorganization," "Comparison of the Alternatives," panelist, American Bankruptcy Institute, 9th Annual Complex Financial Restructuring Program, September 13-14, 2012.
  • "Boris Badenough CSI? Ethical and Civility Issues in Cases Tainted by Crime," panelist, American Bankruptcy Institute, 17th Annual Southeast Bankruptcy Workshop, July 25-28, 2012.
  • "The Vice of Vice Versa: Cross Border Recognition Procedures," panelist, and "An Update on the Manifestly Contrary to Public Policy Exception," author, Haynes and Boone Seminar: Going South: Issues in Cross-Border Insolvency and Restructuring between the U.S. and Mexico, July 25, 2012.
  • "Recognition and Coordination of International Domestic Cases and Obstacles to Recognition of Foreign Proceedings under the Model Law," International Insolvency Institute Conference, June 20-22, 2012.
  • "A Potpourri of Stupid and/or Clever Tactics in Bankruptcy Cases: Ethical Considerations," 2012 Sun Mountain Bankruptcy Seminar, June 15-16, 2012. 
  • "Criticisms of Special Treatment: Which Financial Contracts Warrant It?" American Bankruptcy Institute and World Bank Insolvency and Creditor's Rights Initiative: Financial Contracts Program, April 29, 2012.
  • "An Irishman, a Greek and an Italian Walk into a Bar, Demand that the Bartender Recognize Them and Buy Their Drinks. A discussion of Chapter 15 and Cross-Border Jurisdiction," panelist, The American College of Bankruptcy Fifth Circuit Fellows, April 27-28, 2012.
  • "An Update on the Manifestly Contrary to Public Policy Exception," American Bar Association: Section of International Law 2012 Spring Meeting, April 17-21, 2012.
  • "Credit Bidding And Cramdown," "Venue Selection," and "Treatment Of Executory Contracts," American Bankruptcy Institute's Complex Financial Restructuring Program, October 5, 2011.
  • "New Rules of Disclosure in Bankruptcy," The Distressed Debt Conference Sponsored by DealFlow Media, October 3-4, 2011.
  • "'The Examiner' Is Not a New HBO Mini-Series" and "Wizard of Debt...And Your Little House Too!" Cincinnati Bar Association's Midwest Regional Bankruptcy Seminar, August 11-12, 2011.
  • "And Your Little House Too! Another Boris Badenough Production," American Bankruptcy Institute's 16th Annual Southeast Bankruptcy Workshop, July 27-30, 2011.
  • "If We're Arguing About It How Can It Be Indubitable?" American Bankruptcy Institute's 29th Annual Spring Meeting, April 2011.
  • "Fundamentals of Chapter 15," Haynes and Boone Seminar, "Nuts and Bolts of (International) Insolvency," March 29, 2011.
  • "What You Always Wanted to Know but Were Afraid to Ask," Young Lawyers Committee of the Bankruptcy Section of the State Bar of Texas, January 28, 2011.
  • "Cram Down: What Can I Prove is Fair and Equitable These Days?" American College of Bankruptcy, January 2011.
  • "Mass Torts, Class Actions and Other Issues that May Arise from the Gulf Oil Crisis," American Bankruptcy Institute's 22nd Annual Winter Leadership Conference, December 2010.
  • "Don't Blame Me! You Made Me Do It! - Recent Trends on the In Pari Delicto Defense," National Conference of Bankruptcy Judges, panel the American Bar Association's Business Bankruptcy Committee, October 2010.
  • "The use of DIP financing as a mechanism to control the US corporate restructuring process," North American Regional Forum News, Newsletter of the International Bar Association Legal Practice Division, Vol. 1, No. 1, October 2010.
  • "A Comprehensive Overview of Dodd-Frank Wall Street Reform and Consumer Protection Act," Haynes and Boone Webinar, July 21, 2010. 
  • "Counsel for 1st Lien Lenders, Investment Banker for 1st Lien Lenders and 2nd Lien Lenders," "Priming Debtor in Possession Lender, 2nd Lien Lenders, Counsel for Vandelay," "1st Lien Lenders, 2nd Lien Lenders, Unsecured Creditors, Eastside (Stalking Horse)," and "Vandelay Counsel, 1st Lien Lenders, 2nd Lien Lenders, Unsecured Creditors, Counsel to Maestro," American Bankruptcy Institute's Complex Financial Restructuring Program 2010, September 20, 2010.
  • "Legal Updates for Investors in Distressed Situations," The Distressed Debt Conference 2010, September 2010.
  • "Chapter 11 Confirmation Issues: 'Gift Plans,' Class Skipping, Third Party Releases" and "Do You Recognize Me? Chapter 15 of the U.S. Bankruptcy Code," Midwest Regional Bankruptcy Seminar, Inc., August 2010.
  • "Surfside Chat: Deposed Former ABI Leaders Speak," and "It Rose from the Grave! The Return of Boris Badenough," panels, American Bankruptcy Institute's 15th Annual Southeast Bankruptcy Workshop, July 2010.
  • "Smooth Sailing in Choppy Waters," Association of Insolvency and Restructuring Advisors Annual Conference, June 2010.
  • "Rule 2019 - It's as Plain as the Nose on an Elephant's Face," Bloomberg Law Reports, Vol. 4, No. 18, May 3, 2010.
  • "An Increditable Result - Limits on Credit Bidding in Bankruptcy Cases," American Bar Association Webinar, April 15, 2010.
  • "One is the Loneliest Number: Chapter 11 Single Asset Real Estate Cases," 34th Annual Judge Alexander L. Paskay Seminar on Bankruptcy Law and Practice Sponsored by Stetson University College of Law and the American Bankruptcy Institute, March 2010.
  • "Fall Down - Go Boom! Lessons from the Mega Cases 2008-2010," 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," 2010. Southeastern Bankruptcy Law Institute Seminar, March 18, 2010.
  • "Tinkerbell, The Crude People and The Bankruptcy Code," Rocky Mountain Mineral Law Foundation, February 2010.
  • "Chapter 11: Recent Developments Part II – Cramdown," Fourteenth Annual Central New York and Capital Region Bankruptcy Bar Associations Conference, November 2009.
  • "DIP Financing: Too Much Lender Control?" American Bankruptcy Institute 2009 Legislative Symposium, November 2009.
  • "Provisions in the Stimulus Package, 2009 Legislative Update, and the Recent Role of Government in the Automaker Workouts," Texas Bar CLE Advanced Business Bankruptcy Course, October 2009.
  • "The Contested Confirmation: Traps, Potholes and Strategies in a Cramdown," American Bankruptcy Institute Southwest Bankruptcy Conference, September 2009.
  • "Bankruptcy Issues for Clients Who Are Creditors," Fort Worth Chapter of CPA's Tax Institute, August 2009.
  • "The Fall of Boris Badenough: Ethical Issues for Lawyers in Representing 'Unusual' Clients," American Bankruptcy Institute Southeast Bankruptcy Workshop, July 2009.
  • "International Insolvency and Workouts – How to Protect Claims and Assets with Multinational Corporations," Institute for International and Comparative Law Symposium, June 2009.
  • "The Other End of the Firehose: The Treasury Giveth and the IRS Taketh Away," American Bar Association - Tax Section - Bankruptcy & Workouts Committee, May 2009.
  • "Planning for the Recessionary Global Economy: Selected Business and Tax Issues," American Bar Association - Section of International Law, April 2009.
  • "Stupid Cases," Connecticut Bar Association - Commercial Law and Bankruptcy Section, March 2009.
  • "Unspeakable Evil: Preference and Fraudulent Transfer Claims - What They Are And How To Manage Your Risk," International Energy Credit Association, March 2009.
  • "Chapter 15 of the U.S. Bankruptcy Code: New Procedures for Cross Border Insolvencies," State Bar of Texas - ILS Annual Institute, March 2009.
  • "Power Negotiation and Conflict Resolution," Turnaround Management Association, October 2008.
  • "The Banker and the Bear," West First Focus, 2008. 
  • "Is the Pen Mightier Than the Sword? The Art of Persuasion Through Effective Writing & Litigation Skills," Joint Presentation of the Bankruptcy Appeals & Litigation Subcommittees of the Business Bankruptcy Committee of the American Bar Association.
  • "Rule 9019 Settlements and the Confirmation Process: Favored Negotiation or the New Cram Down?" National Conference of Bankruptcy Judges, September 2008.
  • "Advocacy Tips (and Other Admissions Against Interest) from the Best in the Business," American Bankruptcy Institute 2008 Central States Bankruptcy Workshop, June 2008.
  • "Finding the Center: The Insolvency of Hedge Funds and Other Offshore Entities," Panelist, American Bankruptcy Institute, April 2008.
  • "Gift and Carve Out Plans and Other Developing Confirmation Issues in Chapter 11," National Conference of Bankruptcy Judges, October 2007.
  • "The Whole Enchilada or a Whole Lotta Nada: Restructuring Today's LBOs Tomorrow," University of Texas Mergers & Acquisitions Institute, October 2007.
  • "What Do A Barrel Of Oil, A Picasso, And A Flock Of Pigs Have In Common And How Do They Relate To The Cramdown Provisions of Section 1129(b)?" Central California Bankruptcy Association, September 2007.
  • "What Were They Thinking, What Was I Thinking, Was Anybody Thinking?" Central California Bankruptcy Association, September 2007.
  • "Litigation Skills for Your Toolbox - Featuring Past ABI Presidents," American Bankruptcy Institute Southwest Bankruptcy Conference, September 2007.
  • "Random Reflections on Contemporary Chapter 11 Issues," Aspatore Thought Leadership - Bankruptcy & Financial Restructuring Law 2007.
  • "Read the Freakin' Statute," Coastal Bankruptcy Law Institute, April 2007.
  • "Commercial Law Case Update," William J. O'Neill Great Lakes Regional Bankruptcy Institute, April 2007.

Honors

  • Recognized as Best Lawyers' 2011 Dallas Bankruptcy and Creditor-Debtor Rights Lawyer of the Year and the Best Lawyers' 2012 Dallas Litigation - Bankruptcy Lawyer of the Year.
  • Recognized as one of the Best Lawyers in America - Bankruptcy and Creditor-Debtor Rights Law, 2010-2015, and Insolvency and Reorganization Law, and Litigation - Bankruptcy, 2012-2015.  Mr. Phelan has been listed in The Best Lawyers in America for more than 20 years.
  • Recognized by Chambers Global for Bankruptcy and Business Restructuring, 2012-2014.
  • Recognized by Chambers USA 2008-2014 as one of the leading practitioners in the United States for bankruptcy
  • Recognized as a Texas Super Lawyer - Bankruptcy & Creditor/Debtor Rights, 2009-2014, a Top 100 Texas Super Lawyer, 2011-2012, and  a Top 100 Dallas/Fort Worth Region Super Lawyer, 2010-2013
  • Recognized as a Best Business Lawyer in Dallas for Bankruptcy and Workout, D Magazine, 2009, 2011, 2013-2014
  • Recognized in The International Who's Who of Insolvency & Restructuring Lawyers 2000-2008, 2010, Law Business Research Ltd.
  • Recognized as being among the outstanding attorneys practicing in restructuring, reorganization, insolvency, and bankruptcy by The K&A Restructuring Register, America's Top 100, Eighth Edition, 2007
  • Martindale Hubbell® Law Directory with a Peer Review Rating of AV® Preeminent™

Selected Representative Experience


U.S. Bank National Association v. Verizon Communications Inc., 10-01842, U.S. District Court Northern District of Texas (Dallas)
Represented the plaintiff trust as primary counsel. Through proceedings in federal court in the Northern District of Texas, Idearc was reorganized under Chapter 11 of the United States Bankruptcy Code. Pursuant to Idearc’s plan of reorganization, the Idearc Trust was created and assigned certain causes of action, including Idearc’s claims against Verizon and former officers and directors of Verizon and Idearc. The beneficiaries of the trust are principally bondholders of, and lenders to, Idearc and its subsidiaries with claims of approximately $6 billion. The causes of action against Verizon relate to an approximately $9.5 billion fraudulent transfer in connection with the spin-off of Idearc.

Fraudulent Transfer and Promoter Fraud Case
Assisted with post-trial briefing in fraudulent transfer and promoter fraud case.

Acquisition of Infinity Resources, Inc.
Represented CD Listening Bar, Inc., an Internet-based distributor of entertainment media, in its acquisition of Infinity Resources, Inc.

Adelphia
Represented Bank of America, as agent for $2.5 billion credit facility owed by various Adelphia entities, in Adelphia’s Chapter 11 bankruptcy case. Successfully obtained payment in cash in full for clients when cable operations were sold to Time Warner and Comcast. Continue to represent Bank in related litigation.

Highland Capital
Represented the senior secured lenders with nearly $300 million of exposure in this highly contested Chapter 11 case in Nashville, Tennessee. The case involved the proper standard for interest on over-secured creditors’ claims in a Chapter 11 case.

Representation of Creditors’ Committee - Ultimate Electronics
Represented the Official Committee of Creditors in the Chapter 11 of this leading specialty retailer of high-end home entertainment and consumer electronics with sixty-five stores in fourteen states. In connection with the bankruptcy, the principal operating assets were sold and the creditors achieved a recovery more than 5 times the amount originally estimated at the outset of the case.

Chapter 11 for Entertainment Company
Represented the trustee in connection with the liquidation of this international operator and franchisor of entertainment centers. The case involved extensive tracing of assets in foreign jurisdictions and significant litigation against accountants, officers and directors. There were numerous appeals and the case took nearly 10 years to complete.

Chapter 11 Debtor Representation - AMRESCO, Inc.
Represented this entity in its liquidating Chapter 11 case. AMRESCO by and through its subsidiaries was a small and middle market business lending company, making loans primarily to franchisees of nationally recognized restaurant, hospitality, and service organizations, and to small business owners.

National Energy Group - Carl Icahn Interests
Representation of Carl Icahn affiliate in connection with its acquisition of exploration and production company through a creative Chapter 11 plan that was designed to preserve $100 million in net operating losses.

Debt Restructure and Collections
Represented Southwest Savings Association, Bonnet Resources, Amresco, and Sunbelt Savings Association in connection with the collection of hundreds of loans including, real property foreclosures, personal property foreclosures, litigation, demands for payment, restructurings, and bankruptcies. These loans covered all industries and involved many novel factual and legal issues.

Representation of Creditors’ Committee - Reliant Building Products
Represented the Creditors’ Committee in the Chapter 11 case of this manufacturer of home building products, principally windows and doors.

Fruehauf Trailer Corporation
Represented the bondholders committee in the Chapter 11 case of this major truck trailer manufacturer.

Representation of Indenture Trustee - LTV Corporation
Represented the indenture trustee for LTV’s public debt in LTV’s marathon Chapter 11 restructuring.

First Japanese Bank Real Estate Restructuring
Represented a syndicate of Japanese banks in connection with their first ever restructuring of a real estate credit facility in the United States, the $300,000,000 corporate headquarters of 7-Eleven, Inc.

East Texas Steel Company
Represented the Creditors’ Committee in the Chapter 11 case of this steel company in which our attorneys secured bankruptcy court approval to run an auction of the company’s assets. The success of the Committee in putting the company on the market led to the company’s parent infusing sufficient cash into the company to permit a near full recovery to unsecured creditors.

Debtor Representation - Manufacturing Company
The firm’s bankruptcy attorneys led the reorganization of this operating anodizing company that had major environmental problems and other environmentally impacted properties through a unique plan providing for the transfer of properties to two trusts that would remediate the properties for the benefit of governmental creditors.

Representation of Indenture Trustee - Zale/Gordon
Represented the indenture trustee for $150 million of senior notes of Gordon Jewelry Corporation in the Zale/Gordon Jewelry bankruptcy cases.

Southmark Corporation - Coopers and Lybrand
Represented Coopers & Lybrand in major adversary proceeding brought by the Southmark bankruptcy estate. The case involved successful prosecution of an appeal on behalf of Coopers & Lybrand.

Lincoln Properties, Vantage Properties, and Trammell Crow
Represented the major secured creditor in connection with the restructure of these major real estate organizations.

Allis Chalmers Corporation
Represented a major manufacturer of heating and air conditioning equipment in its purchase of the American Air Filter Division assets out of the Allis Chalmers bankruptcy case pending in the U.S. Bankruptcy Court for the Southern District of New York.

Neostar, Inc.
Represented the major secured creditor and DIP lender in the Chapter 11 case in Dallas involving the operator of the retail chain Babbages.

Representation of Indenture Trustee - Mutual Benefit Life Insurance Company
We represented the indenture trustee for bondholders under a tax exempt financing that was guaranteed by the debtor, an insurance company undergoing restructuring in New Jersey.

Acquisition of Air Transportation Routes
Shortly after the commencement of a major airlines bankruptcy in 1982, the firm was engaged by another major airline in connection with its acquisition of the bankrupt airline's South American routes and assets. The transaction was approved on an expedited basis by the bankruptcy court and required consular approval by the governments of all South American countries whose routes were involved.

Co-Counsel to Official Committee of Unsecured Creditors of Idearc, Inc.
Represent the Official Committee of Unsecured Creditors of Idearc, Inc. in its Chapter 11 case pending in Dallas. Idearc, the publisher of the Verizon Yellow Pages, was spun off from Verizon in 2006 and filed for bankruptcy protection in March 2009. Idearc owes approximately $3 billion in unsecured debt as well as more than $6.8 billion in secured debt.

Jiffy Lube Franchisee Heartland Automotive
Represented Jiffy Lube International, Inc. in the Chapter 11 proceedings of its largest franchisee, Heartland Automotive Holdings, Inc., in Fort Worth, Texas. The debtor operates over 400 franchised Jiffy Lube service centers across the nation, raising complex issues regarding franchise agreements, non-residential real property leases, and franchisee relations.

Bankruptcy Case - Major Financial Institution
Represented a major financial institution as the administrative agent for multi-billion dollar credit facility in the Adelphia bankruptcy case. The case involved significant litigation against the bank group for which Bank of America serves as administrative agent. The litigation is ongoing.

Shell - Bankruptcy Counsel
Serve as one of Shell's national bankruptcy counsel.

$2.48 Billion Multi-Facility Finance - Cable Company
Represented the administrative agent in connection with the workout and eventual bankruptcy of a cable television company, resulting in a 100 percent collection of all indebtedness (subject to continuing litigation).

Debtor Representation - Mirant Corporation
Represented Mirant Corporation and certain of its direct and indirect subsidiaries in their Chapter 11 cases in Fort Worth. Mirant was an international company whose core business is the production and sale of electricity and electrical capacity. The Mirant Corporation bankruptcy is the largest bankruptcy case ever filed in Texas.

Memberships

  • American Bankruptcy Institute, Former Director and Former President
  • College of the State Bar of Texas
  • American College of Bankruptcy
  • Dallas Bar Association, Former Chairperson of bankruptcy-related committees 
  • State Bar of Texas, Former Chairperson of the Bankruptcy Law Section
  • American Bar Association, Former and current Chairperson of numerous committees
  • INSOL
  • International Bar Association
  • International Insolvency Institute, Director
  • John C. Ford American Inn of Court

Online Publications

01/23/2014 - Weathering the Storm: Fisker Delivers a "Buyer Beware" Warning to Lenders and Purchasers of Secured Claims Seeking to Credit Bid
On January 17, 2014 the Bankruptcy Court for the District of Delaware issued a ruling in Fisker Automotive Holdings, Inc., et. al., Case No. 13-13087 (KG), which highlights potential risks to both secured creditors and purchasers of claims in bankruptcy section 363 sales.

08/09/2013 - Private Equity Investment Funds can now have Pension Liability for the Obligations of Portfolio Companies
On July 24, 2013 the First Circuit Court of Appeals, applying an “investment plus” test, concluded that a Sun Capital private equity investment fund was engaged in a “trade or business” for purposes of determining whether the fund could be jointly and severally liable under ERISA for the unfunded pension withdrawal liability of the portfolio company.

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.

11/28/2012 - Weathering the Storm: Vitro’s Concurso Plan Is Theoretically Enforceable in the United States . . . But Not This Time . . . Under These Circumstances
On November 28, 2012, the United States Court of Appeals for the Fifth Circuit published an opinion affirming the bankruptcy court’s ruling that the Mexican Plan of Reorganization (the “Concurso Plan”) of the Mexican glass-manufacturing company, Vitro, S.A.B. de C.V., approved by the Federal District Court in Mexico, should not be enforced under Chapter 15 of United States Bankruptcy Code The United States Bankruptcy Court for the Northern District of Texas (the “Bankruptcy Court”) concluded that...

08/14/2012 - Weathering the Storm: They Said What They Meant: 5th Circuit Declines Invitation to Add Requirements to Safe Harbor for Forward Contracts
The Bankruptcy Code provides a number of “safe harbors” for forward contracts and other derivatives. These provisions exempt derivatives from a number of Bankruptcy Code provisions, including portions of the automatic stay, restrictions on terminating executory contracts, and the method for calculating rejection damages.

07/25/2012 - An Update on the Manifestly Contrary to Public Policy Exception
Chapter 15 is based on the Model Law on Cross Border Insolvency (the “Model Law”), which had been prepared by the United Nations Commission on International Trade Law (“UNCITRAL”), with significant input from insolvency practitioners all over the world.

07/17/2012 - Weathering the Storm: Sunbeam Sheds New Light On The Rights Of Trademark Licensees
On July 9, 2012, the Seventh Circuit decided in Sunbeam that the rejection of a trademark license by a bankrupt trademark licensor does not deprive the trademark licensee of its right to continue to use the trademark, and disagreed with the 1985 Fourth Circuit decision in Lubrizol that held to the contrary.

06/20/2012 - Weathering the Storm: Vitro’s Concurso Plan is Manifestly Contrary to Public Policy . . . at Least for Now
On June 13, 2012, the United States Bankruptcy Court for the Northern District of Texas (the “Bankruptcy Court”) published an opinion ruling on whether the Mexican Plan of Reorganization (the “Concurso Plan”) of the Mexican glass-manufacturing company, Vitro, S.A.B. de C.V., approved by the Federal District Court in Mexico, should be enforced under Chapter 15 of United States Bankruptcy Code.

01/09/2012 - Qimonda's Impact on Patent Licenses When a Licensor Goes Bankrupt in a Foreign Land
Can a U.S. patent licensee whose license has been rejected by a licensor under foreign law in a foreign bankruptcy rely on the protections of § 365(n) of the U.S. Bankruptcy Code? On October 28, 2011, the United States Bankruptcy Court for the Eastern District of Virginia issued an opinion addressing this in the Chapter 15 case of Qimonda AG (“Qimonda”).

01/09/2012 - The IP Beacon, January 2012
A Haynes and Boone Newsletter highlighting current issues in Intellectual Property Law.  

11/08/2011 - Weathering the Storm: Qimonda, Patent Licenses and § 365(n)
On October 28, 2011, the United States Bankruptcy Court for the Eastern District of Virginia issued an opinion in the Chapter 15 case of Qimonda AG (“Qimonda”). The bankruptcy court held that the application of § 365(n) to executory licenses to U.S. patents was required to sufficiently protect the interests of U.S. patent licensees under Chapter 15 of the Bankruptcy Code and that the failure of German insolvency law to protect patent licensees was “manifestly contrary” to United States public policy.

09/27/2011 - Pratt's Journal of Bankruptcy Law: A Routine Foreclosure May Be A Preferential Transfer
A bankruptcy judge in Dallas recently issued an opinion that exposes foreclosing lenders who credit bid to possible attack. The court ruled that a lender that credit bid to purchase its collateral at a foreclosure sale prior to the bankruptcy of the borrower could be sued for a preference to recover the purchased property, even though the debtor could not bring a fraudulent transfer suit regarding the foreclosure sale. The authors of this article discuss the case and its ramifications.

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.

08/09/2011 - Weathering the Storm: A Routine Foreclosure May Be A Preferential Transfer
As many creditors have unfortunately discovered, the Bankruptcy Code allows a debtor to sue the creditor for certain payments – called preferences – that the creditor received from the debtor prior to the bankruptcy. The creditor is deemed “preferred” over other creditors if the transfer resulted in a payment on the creditor’s claim against the debtor that was larger than the payment the creditor would have received if the transfer had not been made and the creditor had instead participated in distributions from the debtor’s bankruptcy estate.

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 case,1 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.

04/11/2011 - Weathering the Storm: District Court Imposes Additional Duties on Creditors Seeking to Reclaim Goods Sold to a Debtor During the 45-Day Period Preceding the Bankruptcy Case
Vendors who sell goods to customers are probably familiar with the issues that arise when the customer later files bankruptcy. For instance, Section 546(c) of the Bankruptcy Code (and applicable state law) provides a vendor the right to reclaim goods it sold to the customer within 45 days of the bankruptcy petition date.

02/14/2011 - Weathering the Storm: Ability to Gift New Equity to Old Equity through Plan Disapproved in the Second Circuit and Ulterior Motives in Purchasing Debt Could Lead to Designation of Vote
On February 8, 2011, the Second Circuit Court of Appeals issued an opinion that will have a major impact on Chapter 11 plan confirmation.

10/01/2010 - The use of DIP financing as a mechanism to control the US corporate restructuring process
Lenders routinely use debtor-in-possession financing (‘DIP financing’) agreements to gain substantial control over debtors in Chapter 11 and the bankruptcy reorganisation process. However, the currently accepted degree of lender control over the Chapter 11 process has evolved into a major de facto change in the bankruptcy process that inhibits rehabilitation of distressed companies.

05/03/2010 - Rule 2019 - It’s as Plain as the Nose on an Elephant's Face
Federal Rule of Bankruptcy Procedure 2019 requires every committee in a chapter 9 or chapter 11 bankruptcy case “representing” more than one creditor or equity security holder to file a verified statement containing certain disclosures, such as the amount of claims held by members of the committee, the dates the members acquired their claims and the amounts paid for the claims.

04/07/2010 - Weathering the Storm: Does the Bankruptcy Code Restrict a Liquidation Trustee’s Power after Plan Confirmation?
Reversing the decision of the United States District Court for the Northern District of Illinois, the Seventh Circuit (the “Court”) held in Grede v. Bank of New York Mellon, et al., No. 09-3121 (7th Cir. Mar. 18, 2010) that neither the Bankruptcy Code (the “Code”) nor the Supreme Court’s decision in Caplin v. Marine Midland Grace Trust Co., 406 U.S. 416 (1972) apply to the activities of a post-confirmation liquidating trustee appointed in a liquidating trust created by a confirmed plan of reorganization.

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.

03/25/2010 - Weathering the Storm: Third Circuit Ruling on Credit Bidding is Bad News for Lenders
On March 22, 2010, the Third Circuit released its long-awaited ruling in the Philadelphia Newspapers case regarding the applicability of credit bidding. In Philadelphia Newspapers, the proposed plan of reorganization provided for a sale of assets free of the liens of the secured creditors without allowing the secured creditors to credit bid on the assets.

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.

03/11/2010 - Weathering the Storm: Single Asset Real Estate Cases
From 2010 until 2013, approximately $1.4 trillion of commercial real estate loans will mature. This alert discusses the rules governing Single Asset Real Estate (SARE) Chapter 11 cases.

10/21/2009 - Weathering the Storm: Savings Clauses: Fraudulent Transfer Issues in the TOUSA Bankruptcy Case
The judge's ruling in the October 13, 2009 TOUSA, Inc. bankruptcy cases raises a number of troubling issues for commercial lenders, including but not limited to, the judge calling into question the enforceability of fraudulent conveyance “savings clauses,” common in commercial loan agreements.

06/12/2009 - Weathering the Storm: Look Out Lenders—Collecting Fees For Loaning Money May Be Considered Evil
In a recent case, a Bankruptcy Court in Montana equitably subordinated a pre-bankruptcy secured lender’s first lien claims to the claims of the DIP lender and the unsecured creditors even though the lender did not owe any fiduciary duties to the debtor or any of the debtor’s potential creditors.

04/30/2009 - Weathering the Storm: Recent Decision Creates Additional Cash Requirements to Reorganize
On April 8, 2009, the Second Circuit Court of Appeals issued a ruling that creates an additional hurdle for companies providing single-employer pension funds when seeking to reorganize through a bankruptcy. In general, the termination of a pension plan can give rise to a per-employee termination premium (a “Termination Premium”) owed by the company terminating the plan to the Pension Benefit Guaranty Corporation (“PBGC”), the quasi-governmental entity that insures pension plans.

04/23/2009 - Weathering the Storm: Recent Decision Affects Setoff Under Netting Agreements
Companies that engage in multiple transactions with different entities of related groups often enter into contractual netting agreements that allow the setoff of obligations between entities within the groups. The effectiveness of these agreements has been called into question by a recent decision of a bankruptcy court in Delaware, which refused to allow a party to a contractual netting agreement to offset its obligations to the debtors against obligations of the debtors under the netting agreement. Parties to such netting agreements may have to reconsider how to structure such agreements and how to defend their effectiveness in court.

04/08/2009 - The Other End of the Firehose: The Treasury Giveth and the IRS Taketh Away
Presented as part of "Tax Issues in Large Case Chapter 11 Bankruptcies," ABA, April 8, 2009.

03/18/2009 - Reality Warp - In Bankruptcy, Anything Goes
This article outlines a few interesting recent cases that impact Chapter 11 reorganizations and show how the intersection of computer research, common law, creative financing and the proliferation of judicial decisions has warped legal reasoning to the point where anything can happen.

03/05/2009 - Chapter 15 of the U.S. Bankruptcy Code: New Procedures for Cross Border Insolvencies
The Bankruptcy Abuse, Prevention and Consumer Protection Act of 2005, which was signed into law in the United States on April 20, 2005 and became effective, for the most part, on October 17, 2005, creates a new chapter of the United States Bankruptcy Code (11 U.S.C. 101, et seq., as amended) (the “Bankruptcy Code”) – Chapter 15.

12/17/2008 - FAQ for Car Dealerships: What if the Big 3 Go Into Bankruptcy
The three major automobile manufacturers in the United States, General Motors, Ford and Chrysler, have indicated that without significant financial assistance from the government a filing for organization under Chapter 11 of the United States Bankruptcy Code is likely. Such a filing would have a significant impact on car dealers. This document answers the questions dealerships nationwide would have to confront.

08/30/2007 - Enron--Appellate Court Overturns Ruling on Equitable Subordination and Claims Disallowance
‘Taint Clear: “Purchased” Claims are Not Subject to Equitable Subordination or Disallowance Based Solely on Seller’s Conduct, but Purchaser’s Knowledge of the Seller’s Conduct May Be Fatal

04/12/2007 - Supreme Court Holding Allows Bankruptcy Proofs of Claim to be Amended to Recover Attorneys' Fees
On March 20, 2007, the United States Supreme Court issued a unanimous opinion in Travelers Casualty & Surety Co. of America v. Pacific Gas & Electric Co., No. 05-1429, 2007 WL 816795 (March 20, 2007), holding that a creditor may supplement its unsecured claim in a bankruptcy case to recover contract-based attorneys’ fees incurred during the bankruptcy case through the litigation of bankruptcy law matters.

05/02/2004 - You Can Plan On It: An Overview of Priorities, Disclosure Statements, Plan Provisions, and Cram-Down
Private Equity and Mezzanine Debt Financing, Dallas, Texas, May 2, 2003, Houston, Texas, May 9, 2003

04/15/2004 - Joe Isuzu on the Witness Stand and How to Examine Him (Her) (It)
American Bankruptcy Institute 22nd Annual Spring Meeting, Washington, D.C., April 15-18, 2004

09/29/2003 - Overview of Restructuring and Bankruptcy for Airlines
The Legal and Business Guide to Airline Restructuring, New York, September 29-30, 2003

09/18/2003 - Cramdown: Everything You Wanted to Know and More About Rate and Term
American Bankruptcy Institute 11th Annual Southwest Bankruptcy Conference, Las Vegas, September 18-21, 2003

08/05/2003 - Ocean-Front Property in Montana and Other Shrewd Purchases
Sales of Assets in Bankruptcy Pursuant to Section 363

06/23/2003 - Conforming to the Bankruptcy Code: What Lenders and Investors Need to Know
The Legal and Strategic Guide to Chapter 11 Finance, New York, June 23-24, 2003

03/20/2003 - Straw, Gold, Extortion, Bureaucrats, Conspiracy, Furriners and Other Methods of Finding Assets
Southeastern Bankruptcy Law Institute, Atlanta, Georgia, March 20-22, 2003

01/01/2003 - Corporate Governance Issues for the Financially Troubled Company

01/01/2003 - Schools, Fools and Tax Collector Tools
New Stuff and New Uses For Old Stuff When the Tax Reaper Swings His Scythe (2003 Texas CPA Tax Institute)

12/05/2002 - Limits (and Expansions After Craft) of the Scope of Bankruptcy Court Power
14th Annual Winter Leadership Conference, Tuscon, Arizona, December 5-7, 2002

06/13/2002 - Getting the Deal Done with a Distressed Company - Current Legal/Bankruptcy Issues
Mergers and Acquisitions 2002: Effective Dealmaking in the Post-Boom Economy: Legal and Investment Banking Perspectives, Dallas, Texas, June 13, 2002

06/10/2002 - Cross-Border Insolvency With Mexico
III Second Annual International Insolvency Conference, Fordham University Law School, June 10-11, 2002

06/05/2002 - I Just Called...To Say... I'm Bankrupt: Telecommunication and IP Issues in Bankruptcy
Dallas Bar Association Bankruptcy Section

04/26/2002 - Justification, Indemnification, Obfuscation and Procrastination: Tales of Sales and Chapter 11 Gales
15th Annual Northwest Bankruptcy Institute, Portland, Oregon, April 26-27, 2002

12/11/2001 - Squeezing Blood From Turnips: Tax Issues in Bankruptcy Matters
Texas Society of Certified Public Accounts - 2001 CPE Exposition Conference

06/28/2001 - Liar, Liar, Pants of Fire - The Use of Expert Witnesses in Bankruptcy Litigation
American Bankruptcy Institute Hawaiian Bankruptcy Workshop in Maui, Hawaii

06/11/2001 - Report of the Indonesian Private Business Initiative Regarding the Indonesian Insolvency Law
New York - International Insolvency Institute

06/11/2001 - Towards an Effective Indonesian Bankruptcy Law, Part 4
New York - International Insolvency Institute

05/30/2001 - Licensed to Kill: A Tale of Contract Termination with Extreme Prejudice, Lapses in Security and...
University of Texas School of Law - 14th Annual Computer Law Conference

If Their Business Judgment Was So Good How Come They're In Bankruptcy and Other Perplexing Mysteries
American Bankruptcy Institute Annual Spring Meeting

03/22/2001 - Recent Developments in Commercial and Consumer Cases
Southeastern Bankruptcy Law Institute

02/01/2001 - Silicon Secrets

02/01/2001 - Literal Licensees, Disappearing Collateral And Other Techie Tricks
as presented to INSOL World