Represented Texas Health Resources in its $116.5 MM acquisition of Forest Park Medical Center, located in Fort Worth, Texas, through a bankruptcy court auction and sale process. The hospital reopened in September 2016 as Texas Health Hospital Clearfork.

Represented J. Berry Nursery in its acquisition of certain real and personal property from Woodbridge Partners, L.P. and Seville Farms, Inc., each a debtor in Chapter 11 cases filed in the United States Bankruptcy Court for the Northern District of Texas.

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 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 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 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 involved 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.

Represented the Official Committee of Unsecured Creditors of Life Partners Holdings, Inc., filed in the Northern District of Texas. The debtor filed Chapter 11 after entry of a $47 MM judgment in favor of the SEC. Life Partners involved more than 22,500 investors holding interests in more than 3,500 life insurance policies with an aggregate face value exceeding $2.4 B. This was one of the largest fraud cases in Texas. The committee worked with the Chapter 11 trustee, who was appointed after management was removed, to develop a joint Chapter 11 plan, which was confirmed after a five-week contested confirmation hearing. This was the first “life settlement” company to successfully emerge from bankruptcy with a confirmed Chapter 11 plan.

Represented the Official Committee of Unsecured Creditors of Gainesville Hospital District d/b/a North Texas Medical Center in the Chapter 9 case filed by the debtor in the United States Bankruptcy Court for the Eastern District of Texas. The debtor is a rural hospital district created in 1975 by the Texas legislature, and it owns and operates the hospital located in Gainesville, Texas. The hospital serves as the primary and acute care center for Cooke County, Texas.

Represented two Bumi Armada Berhad affiliates in the bankruptcy cases filed by Erin Petroleum Nigeria Ltd. and three of its affiliates in the United States Bankruptcy Court for the Southern District of Texas. The primary dispute concerned the ownership of approximately 380,000 barrels of crude oil on the floating production storage and offloading vessel owned by our client and moored 50 miles off the coast of Nigeria, in an area with the highest acts of piracy.

Represented Electric Reliability Council of Texas, Inc. (“ERCOT”) in 12 separate bankruptcy cases commenced by participants in the Texas energy market following the winter storm that hit Texas in February 2021. In the case commenced by Brazos Electric Power Cooperative, Inc., the debtor challenged ERCOT’s $2 B claim against the debtor.

Represented Tuesday Morning Corporation and its affiliates in their Chapter 11 cases filed in the Bankruptcy Court for the Northern District of Texas. The debtors had more than 450 store locations across 39 states and in the immediately prior fiscal year, generated sales of almost $750 MM.

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 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.