Firm profile submitted by Forshey Prostok LLP
Contact Partner: Jeff Prostok
Partners: J Robert (Bobby) Forshey, Steven Aldous, Suzanne (Suki) Rosen, Matthew Maben, Matthias Kleinsasser
Number of partners: 6
Number of counsel: 3
FORSHEY PROSTOK has the experience, knowledge and skill to represent clients in all aspects of financial restructuring and insolvency matters, including complex bankruptcy-related litigation. The firm has extensive experience representing debtors, creditors, and official and unofficial creditors’ committees in bankruptcy cases and out-of-court financial restructurings. With offices in Dallas and Fort Worth, Texas, the firm is positioned to respond to both regional and national representations. The firm’s size and dedicated focus on financial restructuring beget the close, individual attention received by its clients in every aspect of the restructuring process. FORSHEY PROSTOK is honored to be the only Fort Worth based firm recognized by Chambers USA in 2017 for its expertise in bankruptcy and restructuring. The breadth of the firm’s representations ranges from the largest case ever filed in Texas to mid-level Chapter 11 reorganization cases and sophisticated creditor representations.
XTO Energy, Inc./Exxon Mobil Corp:
FORSHEY PROSTOK provides creditor representation to XTO Energy, Inc. and ExxonMobil in bankruptcy cases filed throughout the United States, including the following cases: Shoreline Energy, LLC, et al., Linn Energy, LLC, et al.; Samson Resources Corp., et al.; Breitburn Energy Partners LP, et al.; Continental Exploration, LLC.; American Standard Energy Corp, et al; EXCO Resources, Inc., et al.; Badlands Production Company; Republic Resources, LLC; Shoreline Energy, LLC, et al.; Vanguard Natural Resources and others.
Forest Park Medical Center at Fort Worth, LLC:
FORSHEY PROSTOK represented the Medical Center in its Chapter 11 case. The Medical Center’s gross income for 2015 was approximately $150 million dollars. FORSHEY PROSTOK assisted the debtor and it’s CRO in devising a manner to sell the Medical Center preserving value for its creditors.
Texas Rangers Baseball Club:
FORSHEY PROSTOK, acting as conflicts counsel, represented the Texas Rangers Baseball Partners in a chapter 11 bankruptcy case pending in Fort Worth, Texas. FORSHEY PROSTOK actively participated in facilitating an auction for the Major League baseball team and confirming a plan of reorganization for the Texas Rangers Baseball Club. The representation is one of the most unique and high-profile bankruptcies ever filed in Texas.
Victory Medical Center Mid-Cities, LP et al.:
FORSHEY PROSTOK is counsel to the Official Committee of Unsecured Creditors in the jointly administered bankruptcy cases of four hospitals. Forshey Prostok assisted in the sale of two of the debtor-hospitals, the wind down and closure of two of the debtor-hospitals, and the negotiation of a consensual plan of reorganization.
Shannon Gracey Ratliff & Miller:
FORSHEY PROSTOK is counsel to Shannon Gracey, a storied Fort Worth, Texas based law firm, in its partnership wind-down and dissolution. Forshey Prostok negotiated a resolution with virtually all of its creditors, successfully preventing a bankruptcy filing. Notably, Shannon Gracey had its pick of ‘higher-tiered’ firms, but chose Forshey Prostok to handle its dissolution.
HBT JV, LLC:
FORSHEY PROSTOK represented a Honda dealership in a liquidating Chapter 11 case with over $16.5 million in assets and $14.5 million in liabilities. Forshey Prostok successfully assisted the debtor in contentious litigation with one of its equity holders, clearing the way for a sale of the debtor’s dealership and a liquidating plan that provided for 100% payment to all creditors on the effective date and a very significant recovery for equity.
Hydroscience Technologies, Inc./Solid Seismic, LLC:
FORSHEY PROSTOK represents HTI and SSC in their Chapter 11 case, and worked collaboratively with the debtors’ largest creditors to propose a plan which includes the sale of substantially all of their assets for a total consideration in excess of $14 million, including a cash component and the release of claims held by the debtors’ largest creditors. The plan, when confirmed, will provide a significant distribution to creditors.
Falcon Steel Company:
FORSHEY PROSTOK successfully represented a steel fabrication company in a Chapter 11 bankruptcy proceeding. The debtor formulated a consensual plan of reorganization with its secured lender and creditors and successfully emerged from bankruptcy.
FORSHEY PROSTOK served as co-counsel for an Ad Hoc group of bond-holders with claims exceeding $700 million in the Vitro S.A.B. bankruptcy case pending in the Northern District of Texas. There, the firm successfully assisted the bondholders in preventing Vitro from enforcing its Mexican concurso plan in the United States, thereby allowing important subsidiary guaranties to be preserved and enforceable domestically. On appeal, Prostok assisted the bondholders in obtaining a favorable decision from the Fifth Circuit Court of Appeals.
First Baldwin Bancshares, Inc.:
Forshey Prostok recently successfully represented The First Bank in its acquisition of The First National Bank of Baldwin in a contested §363 sale in the Mobile, Alabama Bankruptcy Court.
Heartland Automotive Holdings, Inc.:
FORSHEY PROSTOK served as debtors’ co-counsel for Heartland Automotive Holdings, Inc. and its affiliate debtors. With approximately $396 million in aggregate debt and $334 million in aggregate assets. Heartland’s plan was confirmed in January 2009, with 100% recovery to creditors. FORSHEY PROSTOK took the lead on numerous claim objections in the case.
Mirant Lovett, LLC & Mirant NY-Gen LLC:
FORSHEY PROSTOK successfully confirmed a full-pay plan of reorganizations for Mirant Lovett, a Mirant Corporation power generation subsidiary and Mirant NY-Gen, LLC with scheduled assets exceeding $200 million.