Represented the agent of a fifteen member lender group to SH 130 Concession Company. SH 130 was a public-private partnership organized to construct and operate a major United States toll road, comprising 41 miles of a 90-mile bypass around the city of Austin, Texas. SH 130 and its two parent companies filed for Chapter 11 relief in the Western District of Texas. A Chapter 11 plan was successfully negotiated pursuant to which the lender group, holding in excess of $1.2 B in debt, received a combination of cash payments, newly-issued debt instruments and ownership of the project.

Represented the joint liquidators of Stanford International Bank in the liquidation proceedings pending before the High Court of Antigua and Barbuda in Antigua, involving more than $5 B in claims. The joint liquidators reached a global agreement with the United States Department of Justice and the SEC receiver in the proceeding commenced in Texas regarding $300 MM in assets located in Canada, Switzerland and the United Kingdom. 

Represented Texas Grand Prairie Hotel Realty, LLC and certain of its debtor affiliates in their Chapter 11 cases filed in the Northern District of Texas. The debtors own and operate four Hyatt Place hotels in Texas. The case was significant because the debtors were able to confirm a plan on cramdown of the senior lender and obtain a rate of interest under the Till formula approach, which was the first time this had been applied in this Circuit to a contested Chapter 11 plan and which was substantially less than the rate demanded by the secured lender. The order confirming the Chapter 11 plan was appealed to the United States Court of Appeals for the Fifth Circuit, which affirmed the cramdown and the interest rate, leading to new and significant precedent in the Fifth Circuit. 

Represented the Chapter 11 liquidating trustee in an international fraud case involving litigation and asset recovery in the Bahamas, Germany, Isle of Man, Luxembourg, Switzerland, the United Kingdom and various other countries. As counsel for the trustee, Munsch Hardt recovered approximately $80 MM in a bankruptcy case with scheduled assets of less than $300,000.

Represented the Chapter 7 trustee of VarTec Telecom, Inc. and its debtor affiliates in litigation brought against the debtors’ former directors and officers seeking damages in excess of $100 MM for claims based on breaches of fiduciary duties, gross negligence, avoidance of fraudulent transfers and conversion. 

Represented the receiver appointed in a proceeding commenced by the SEC against 63 separate defendants, in connection with an oil and gas Ponzi scheme involving approximately $500 MM raised from more than 8,000 investors. After 27 of the corporate defendants filed for relief under Chapter 11 in the Northern District of Texas, the receiver was also appointed to serve as the Chapter 11 trustee for these entities. A joint plan of reorganization was confirmed within a year of the bankruptcy filings, which paid creditors 100% of their allowed claims plus interest.

Represented the Chapter 7 trustee appointed in the bankruptcy case filed by Caroline D. Wyly in the United States Bankruptcy Court for the Northern District of Texas. This is one of the largest individual bankruptcy cases ever filed in the United States. The IRS asserted a claim against the debtor in excess of $1.2 B for unpaid income taxes, gift taxes, penalties and interest. The case involves many difficult legal and jurisdictional issues, most of which involve attempts by the trustee to bring into the United States foreign assets under the control of trusts created by the debtor and her late husband in the Isle of Man.