Firm profile submitted by Forshey Prostok LLP
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 2016 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.
Contact Partner: Jeff Prostok
Partners: J Robert (Bobby) Forshey, Steven E Aldous
Number of partners: 3 Number of associates: 5 Number of counsel: 1
XTO Energy, Inc./Exxon Mobil Corp.
FORSHEY PROSTOK provides creditor representation to XTO Energy, Inc. and Exxon Mobil in bankruptcy cases filed throughout the United States, including the following cases In re Shoreline Energy, LLC, et al., In re Linn Energy, LLC, et al., In re Samson Resources Corp., et al., In re Breitburn Energy Partners LP, et al., and In re Continental Exploration, LLC
Forest Park Medical Center at Fort Worth, LLC.
FORSHEY PROSTOK represents 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 auctionfor 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.
Pentwater Capital Management.
FORSHEY PROSTOK represents PCM, a secured creditor holding a claim of $40 million in the American Standard Energy Corp. bankruptcy case. The firm negotiated a consensual plan of reorganization, which provided for PCM’s acquisition of 100% of the equity of the reorganized debtor.
Diverse Energy Systems, LLC.
FORSHEY PROSTOK represented this oilfield manufacturing company in a liquidating Chapter 11 case. Forshey Prostok assisted the Debtor in a sale of substantially all of the Company’s assets. This case was made extremely challenging by the extremely depressed nature of the oilfield service industry during the entire time the case was pending.
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.
Majestic Liquor Stores, Inc.
FORSHEY PROSTOK served as debtor’s counsel for Majestic Liquor Stores, which operated 46 retail stores and three wholesale locations with gross sales in excess of $150 million annually, successfully confirmed a plan of reorganization allowing for a sale of substantially all of its assets and a significant distribution to creditors.
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 and 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.