Financial Restructuring and Reorganization

Recognized by U.S. News & World Report
and Best Lawyers®

National Tier 2, Bankruptcy and Creditor
Debtor Rights - Insolvency and Reorganization Law

National Tier 3, Litigation - Bankruptcy

Metropolitan Tier 1, Dallas/Fort Worth
Bankruptcy and Creditor Debtor Rights -
Insolvency and Reorganization Law &
Litigation - Bankruptcy

Metropolitan Tier 1, Houston
Bankruptcy and Creditor Debtor Rights -
Insolvency and Reorganization Law

Metropolitan Tier 2, Houston
Litigation - Bankruptcy

Gardere’s financial restructuring and reorganization team helps businesses throughout the United States and Latin America in numerous industries and in all stages of financial reorganization, restructuring, bankruptcy and creditors’ rights. We are deepest in the energy, health care and retail sectors, with seamless access to the resources and know-how of a top-tier firm.

Our bankruptcy attorneys lead financially challenged businesses through every aspect of restructuring, reorganization or bankruptcy. We also fight for the rights of creditors involved in difficult business disputes and insolvencies – in and out of the courtroom.

In addition to our regular representation of debtors and creditors, we often represent chapter 11 trustees, examiners, chapter 7 trustees, receivers and post-confirmation trusts. Clients seek our help with:

  • Public and private debt restructuring
  • Chapter 11 business reorganizations
  • Out-of-court workouts, prepackaged chapter 11 cases and prearranged chapter 11 cases
  • Restructuring and collection of problem loans
  • Bankruptcy litigation, including prosecution and defense of avoidance actions and post-confirmation litigation
  • Asset sales and purchases
  • Lien validity and priority analysis and resolution of disputes
  • Non-consolidation opinions
  • Factoring agreements

Over the years, our bankruptcy attorneys have negotiated, drafted and litigated a wide range of sophisticated agreements, including intercreditor agreements, collateral liquidation agreements, loan modifications, debtor-in-possession financing agreements, factoring agreements and myriad workout documents. Whether the economy is booming, busting or in between, clients rely on us for timely, efficient, creative, high-value solutions.

Client Stories

Dorado Pays Creditors in Full

Where we started:  Dorado Beckville Partners I LP was an independent oil and gas exploration and production company that found itself in a liquidity crunch following a steep decline in energy prices.

Our roadmap:  Gardere represented Dorado in its chapter 11 proceeding and was instrumental in the decision to market Dorado’s shallow mineral rights separate from its deep mineral rights in the Haynesville shale formation as part of its overall restructuring.

And finally:  That decision, coupled with a successful marketing process, resulted in confirmation of a chapter 11 plan that paid all creditors in full with interest and returned a significant dividend to equity holders.

Otero Hospital – Chapter 11 Restructuring of the Year

Where we started:  Otero Hospital operated in Otero County, New Mexico and was vital to the health care needs of the local community. Otero Hospital found itself the subject of myriad medical malpractice suits as a result of the actions of two doctors. Otero Hospital filed chapter 11 to reorganize its debts and deal with the medical malpractice claims.

Our roadmap:  Gardere represented the Official Committee of Unsecured Creditors. Gardere negotiated heavily with the various constituents, including over 100 medical-malpractice plaintiffs and insurance carriers to achieve a prompt resolution of the cases.

And finally:   Otero Hospital successfully reorganized and continued operating. Part of the settlement and compromise embodied in the chapter 11 plan was the establishment of a trust from which medical malpractice claimants could seek recovery. The restructuring was supported by virtually all major constituents including the secured creditor, insurance carriers and major plaintiffs, and it resulted in a substantial recovery to trade creditors. The restructuring of Otero Hospital was recognized as the Chapter 11 Reorganization of the Year (Over $100 million) awarded by The M&A Advisor.

Crusader Energy – A Unique Settlement with Trade Creditors

Where we started:  Crusader Energy Group Inc. was an independent oil and gas exploration and production company with approximately $330 million in debt, comprised of approximately $28 million in first-lien debt, $250 million in second-lien debt and $50 million in trade claims.

Our roadmap:  Gardere represented the Official Committee of Unsecured Creditors in negotiating a consensual chapter 11 plan co-proposed by the debtors and each of the three creditor constituencies. The committee negotiated a unique settlement whereby trade creditors with M&M and unsecured claims were offered a flat settlement percentage in satisfaction of all secured and unsecured claims.

And finally:  The settlement developed by Gardere and proposed by the committee was overwhelmingly approved, as was the jointly proposed consensual chapter 11 plan.

Financial Restructuring and Reorganization Practice Essentials

Gardere chapter 7 and chapter 11 attorneys have extensive experience in many industries experiencing financial restructuring, reorganization and insolvency issues, particularly the following:

  • Energy, oil and gas and utilities
  • Health care
  • Retail
  • Manufacturing
  • Computers, telecommunications and technology
  • Real Estate
  • Restaurants
  • Airlines, maritime, shipping and transportation

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