Significant Cases

Richard S. Schmidt — An Opinion You Can Trust

I spent over 40 years as a judge in Corpus Christi, TX. As such, I have overseen several high-profile cases that have given me unique insight into bankruptcy proceedings. I’m one of your best options if you need a consultation to discuss bankruptcy filing.

In re Asarco LLC™ — Case No. 05-21207-C-11

This case was the bankruptcy of copper mining, refining, and smelting companies described by the United States District Court as “perhaps the most successful outcome in bankruptcy history.” (Opinion of Hon. Andrew S. Hanen, Case No. 2:11-CV-290). The debtor exited bankruptcy with $1.4 billion cash and little outstanding debt. All creditors were paid in full with interest and attorney’s fees. The case included complex legal issues, including labor law, environmental (estimations of 54 super fund sites), asbestos/toxic tort, tax law, international law, and corporate law. A review of the docket in this case indicates over 16,800 docket entries.

In re Eagle Bus Mfg, Inc.™ (Greyhound™) — Case No. 90-00985-B-11

This case was the reorganization of Greyhound bus lines that included litigation of unfair labor practice claims and corporate issues of a publicly traded corporation. The case was the third in a series of bankruptcy cases involving a union contract dispute with a transportation company.

In re Midcon Offshore, Inc.™ — Case No. 96-25269-C-11

This was a Complex Chapter 11 reorganization involving offshore oil and gas production requiring the interpretation of Texas and Louisiana oil and gas law and its interplay with Federal Regulations. The case also involved the appointment of a Chapter 11 trustee and litigation between a secured creditor, the unsecured creditor’s committee, and the Chapter 11 trustee.

In re EnRe, L.P.™ — Case No. 02-21354-C-11

This was a Complex Chapter 11 case in which competing plans of reorganization were litigated, and a creditor plan was confirmed. Texas and Wyoming mechanics and materialman’s lien issues formed a large part of the post-confirmation litigation.

In re EOTT Energy Partners™ — Case No. 02-21730

The “EOTT” was short for Enron Oil Trading Trust. This was a Complex Chapter 11 case involving claims by surface owners for environmental damage caused by pipelines and the interpretation of New Mexico law. While the Enron™ case continued in New York, this sister corporation was successfully able to reorganize its assets and liabilities in Corpus Christi. It was one of the largest bankruptcies filed at that time.

In re American Rice, Inc.™ — Case No. 98-21254-C011

This case was the reorganization of the $450 million publicly traded food company Comet Rice™, with over 3500 creditors, involving securities law and corporate officer liability.

TransAmerican Energy Corp.™ — Case No. 99-21515-C-11

This was a Complex Chapter 11 reorganization involving Texas, Wyoming, Louisiana, and Oklahoma oil and gas law.

In re Clemtex, Inc.™ — Case No. 01-21794-C-11

This case was an agreed plan of reorganization confirmed jointly by the U.S. District and Bankruptcy Court, containing settlement trust and channeling injunction in a silicosis mass tort case.