Financial Services

OVERVIEW

Strasburger’s financial services lawyers are recognized leaders who provide legal services to all types and sizes of financial institutions. These clients include commercial banks, thrift institutions, commercial finance units and conduit lenders, securities firms, investment funds and corporate trust departments, as well as branches and agencies of foreign banks. Our attorneys handle lending and other financial transactions along with corporate trust, litigation and bankruptcy and workout matters.

Strasburger’s financial services team currently represents twenty-two money center, regional and Texas banks. A special team within the industry group handles national mortgage litigation matters in twenty-four states for a money center bank.

LENDING

Strasburger’s  financial services lawyers are highly regarded for their abilities in representing domestic and foreign banks, thrift institutions, investment funds and other financial institutions as well as corporate and other business borrowers, in both secured and unsecured commercial credit facilities. For a complete overview of our lending expertise, click here.

LITIGATION

Strasburger represents banks, savings and loan associations, credit unions, credit-reporting agencies (and their officers and directors) in all types of litigation: collection and enforcement of judgments, including extraordinary remedies, such as injunction actions involving real estate and other bank collateral, sequestration, attachment, and garnishment. For a complete overview of our financial litigation expertise, click here.

BANKRUPTCY, WORKOUTS & RESTRUCTURES

Strasburger’s bankruptcy and restructure lawyers represent financial institutions in restructurings, out-of-court workouts and bankruptcy cases, including all aspects of bankruptcy restructuring and litigation. For a complete overview of our financial restructuring expertise, click here.

The firm’s industry leaders are available to answer any questions about Strasburger’s capabilities. To learn more about our experience in this industry, please contact Bob Franke.

EXPERIENCE

COMMERCIAL & INDUSTRIAL LENDING

The Financial Services Team has represented:

  • An agent in a US $2.6 billion equivalent global credit facility to a publicly traded REIT involving U.S., Canada, Euro, Japan, Korea, and China tranches.
  • An agent in a $1.5 billion revolving credit and letter of credit facilities to a publicly traded national homebuilder.
  • An agent in a $1.21 billion revolving credit facility to a publicly traded national homebuilder.
  • An agent in a $450 million revolving credit facility to a publicly traded national homebuilder.
  • An agent in a $400 million multi-year revolving credit facility and $100,000,000 364-day multi-currency revolving credit facility to a publicly traded real estate investment trust.
  • An agent in a $400 million corporate financing to an international contractor and servicing company.
  • An agent in a $350 million mortgage warehouse facility.
  • An agent in a $320 million advancing term loan facility to facilitate acquisition financing and refinancing of publicly traded senior notes secured by multiple hotel properties.
  • An agent in a $200 million corporate loan to a NYSE entertainment company.
  • A lender in $60 million loan secured by assets of cable television companies.
  • A lender in a $20 million revolving credit, term loan and letter of credit facilities to an international trade financing company secured by receivables.
  • A developer in a $10 million loan and the subsequent sale of such loan into a securitized package of loans which required the issuance by this law firm of a non-consolidation opinion.
  • A lender in a $5 million loan to a New York limited liability company for the purchase of an asset from a bankrupt Enron subsidiary and then secured the loan with the asset.
  • A lender in line of credit facilities to international manufacturing and services company, guaranteed in part by the Export-Import Bank of the United States.

REAL ESTATE LENDING

The Financial Services Team has represented:

  • A lender in $69 million construction loan for Park Towers, two 22-story luxury condominium million towers in the Hughes Center, Las Vegas, Nevada.
  • An agent in $24 million construction loan for The Crescent office, hotel and retail complex in the Uptown area of Dallas.
  • A lender in $66 million mixed-use development in Houston.
  • A lender in $15 million retail shopping development in Katy, Texas.
  • A lender in development of private municipal water system.
  • A lender in $60 million construction loan for office, residential and retail project in Atlanta, Georgia.
  • A lender in $60 million acquisition loan for Fiesta Mall in Phoenix, Arizona.
  • A lender in $50 million construction loan for portfolio of manufacturing facilities in cities in California and Kansas.
  • A lender in $18 million acquisition line for seven department stores in five Midwest and southwestern states.
  • A lender in $12 million construction loan for student housing at the University of Nebraska-Omaha.
  • A lender in $18 million construction loan for the groundbreaking Meridian apartment project in the Uptown area of Dallas.
  • A lender in $20 million revolving construction line of credit to national homebuilder.

SYNDICATED LENDING

The Financial Services Team has represented:

  • An agent in a US $2.6 billion equivalent global credit facility to a publicly traded REIT involving U.S., Canada, Euro, Japan, Korea, and China tranches.
  • An agent in a $1.5 billion revolving credit and letter of credit facilities to a publicly traded national homebuilder.
  • An agent in a $1.21 billion revolving credit facility to a publicly traded national homebuilder.
  • An agent in $750 million financing secured by six petrochemical plants and 600 miles of interconnecting pipelines.
  • An agent in a $450 million revolving credit facility to a publicly traded national homebuilder.
  • An agent in a $400 million multi-year revolving credit facility and $100,000,000 364-day multi-currency revolving credit facility to a publicly traded real estate investment trust.
  • An agent in a $320 million advancing term loan facility to facilitate acquisition financing and refinancing of publicly traded senior notes secured by multiple hotel properties.
  • An agent in a $400 million corporate financing to an international contractor and servicing company.
  • An agent in a $350 million mortgage warehouse facility.
  • An agent in a $200 million corporate loan to a NYSE entertainment company.
  • An agent in financing secured by 26,000 miles of natural gas pipelines.

ENERGY LENDING

The Financial Services Team has represented:

  • A borrower in $25 million financing for acquisition of petroleum refinery, pipeline and service stations in West Texas.
  • An agent in $2 billion financing secured by 26,000 miles of natural gas pipelines.
  • Offering of $130 and $150 million series senior notes for U.S. oil field service companies.
  • An agent in $750 million financing secured by six petrochemical plants and 600 miles of interconnecting pipelines.
  • An agent in $60 million secured revolving credit and term loan facilities to an oilfield services company to provide financing for a corporate acquisition.
  • A lender in a $25 million reserve based loan to an independent producer.
  • An international company in refinancing its senior debt in connection with the restructuring of U.S. and foreign subsidiaries of the company and sale of $90 million of offshore oil and gas properties.
  • An agent in financing secured by 26,000 miles of natural gas pipelines.
  • An agent in a $100 million reserve based loan secured by producing properties in Oklahoma.
  • A lender in a $35 million secured revolving credit facility to an independent producer.

INTERNATIONAL LENDING

The Financial Services Team has represented:

  • A major European bank in the restructuring of approximately $90 million of indebtedness owed by a Mexican public company to a syndication of lenders.
  • A U.S. corporate trustee in a securitization of receivables aggregating more than $200 million held by a Mexican shipping company.
  • International investors in the restructuring of a $250 million toll road securitization project.
  • An Irish bank in a $100 million financing of a major kitchen equipment manufacturer and its subsidiaries in the U.S. and Mexico, secured by shares of such subsidiaries and other assets.
  • An international project company in a project financing for electricity transmission lines in Mexico.
  • A major European bank in a $75 million syndicated bridge financing for acquisition of majority stake of a Mexican retail business.
  • A Mexican airline company in the financial leasing of two new aircraft with a total value of $70 million.
  • A U.S. corporate trustee in modifying four Mexican project finance transactions to reflect the sale of its corporate trust business to another financial institution.
  • A European bank in a $44 million loan to a Mexican sugar producer, and in a later workout of the debt that resulted in a collection of 100 cents on the dollar.
  • A Spanish bank in preparation of loan documents for extending a $42 million loan to a Spanish-Mexican hospitality developer.
  • A publicly traded U.S. company in a $3 million loan to a Costa Rican company to finance the purchase of equipment from a U.S. seller, with collateral security in the U.S. and in Costa Rica.
  • A Mexican local telephony provider in a $22 million vendor financing facility.
  • A U.S. indenture trustee for holders of $100 million in bonds, in a Mexican bankruptcy proceeding filed by a major engineering firm with over $800 million in debts.
  • A U.S. trucking company in a multi-million dollar loan to a Mexican transportation company, convertible into equity if and when foreign investment in this sector is permitted.
  • A Hong Kong company in a $10 million loan secured by Mexican real property, including interest in agrarian property.
  • A Cayman Islands lender to a Canadian mining company, with the loan secured by shares of the company’s Mexican mining subsidiary.
  • A U.S. energy company in connection with a floating production storage vessel project in Thailand.
  • A Mexican company in connection with an acquisition of a Texas company.
  • Assisted with representation of a Mexican borrower with acquiring a bridge loan for approximately $30 million to sustain operations during the period prior to closing of the sale of its operations in a stock purchase transaction from a British private lender.
  • Assisted with representation of a U.S. bank in a number of loan transactions to Mexican individuals and companies varying up to $70 million.
  • Assisted with representation of a U.S. bank in a revolver loan transaction to a Spanish company.

LITIGATION

The Financial Services Team has:

  • Represented national bank in litigation involving claims of fraud and breach of complex loan agreement secured by hundreds of oil and gas leases and negotiated settlement.
  • Obtained settlement of lender liability claim in which plaintiff sought to cancel $17 million debt and to recover $22 million for destruction of business.
  • Represented bank in lender liability action by cotenant in a shopping mall alleging that bank which made $29 million construction loan to refurbish the mall conspired with the other cotenants and aided and abetted breach of contract, fraud, and deceptive trade practices, and companion declaratory judgment action by bank seeking declaration that the execution of the note and deed of trust was authorized by the cotenancy agreement and that the debtor was estopped from contesting their validity.
  • Handled appeal of $880,000 judgment against bank in a wrongful foreclosure action brought by guarantor whose corporate stock was purchased at private foreclosure sale by secured creditor bank.
  • Obtained summary judgment for bank holding a first-filed security interest in debtor’s accounts receivable in conversion action against supplier of x-ray equipment who claimed a purchase money security interest in debtor’s accounts receivable.
  • Obtained summary judgment on behalf of credit union in suit for alleged bad faith demand for additional collateral, breach of contract, wrongful acceleration, fraud, deceptive trade practices, and usury, seeking $7 million and recovery of over $1 million on the credit union’s counterclaim.
  • Defeated a claim against the bank for breach of good faith and fair dealing, fraud and negligence, and recovered on the bank’s counterclaim for fraudulent transfer in a case involving $300,000 in forged postal money orders.
  • Settled action by bank shareholder against bank for fraud and breach of contract for failure to use best efforts to sell bank stock.
  • Obtained summary judgment for $640,000 for fidelity insurer for credit union in subrogation action against foreign national who withdrew unauthorized funds deposited into his account by credit union employee and deposited them in national bank.
  • Obtained summary judgment for credit union in defamation action by a customer brought against the credit union and credit-reporting agency, based on alert which implicated his account in check-kiting activity without specifying that he was a victim.
  • Represented creditor in suit to recover for bank’s alleged conversion of cash proceeds from sale of collateral in which creditor claimed prior interest.
  • Obtained dismissal of claim against bank for payment of $200,000 check over unauthorized endorsement.
  • Represented secured party in action against motorcycle retailer after retailer had allegedly defaulted under wholesale financing agreement that granted secured party a purchase money security interest. Obtained temporary restraining order and writ of sequestration to recover collateral.
  • Obtained judgment for bank in trial court and on appeal in case brought by drawer of check arising out of payment of funds over a forged endorsement.
  • Negotiated pre-suit settlement of aircraft repair facility’s lien to facilitate bank’s foreclosure on aircraft held by repair facility.
  • Obtained temporary restraining order preventing the removal and disposition of golf carts pledged as collateral on loan and negotiated delivery of collateral prior to temporary injunction hearing.
  • Obtained reversal on appeal of punitive damage award against bank arising out of attempted foreclosure.
  • Obtained dismissal of suit against bank for $100 million in damages arising out of its alleged participation in a fraudulent insurance scheme.
  • Obtained dismissal prior to class certification of nationwide consumer class action alleging violations of RESPA in consumer home loans for national bank.
  • Obtained voluntary withdrawal of class-certification allegations and complete settlement of nationwide class action against mortgage company alleging RESPA violations in residential mortgages.
  • Protected first lien interests of national banks and lending institutions in criminal forfeiture and tax lien actions.
  • Obtained summary judgment and recovery of attorneys’ fees for national bank serving as a corporate fiduciary in complex litigation alleging breach of fiduciary duty in management of assets.
  • Obtained dismissal, including agreement of no liability, for a national bank serving as a corporate fiduciary in a complex breach of fiduciary duty and tort case.
  • Obtained settlements for national banks serving as corporate fiduciaries after significant litigation of complex probate, trust and fiduciary disputes.
  • Successfully terminated trusts and litigated resignations of corporate fiduciaries on behalf of national banks in disputes with beneficiaries.
  • Represented member of bank group in litigation against an agent bank in syndicated loan.
  • Represented national bank in over 300 suits involving garnishments, temporary restraining orders, injunctions and receivership.

BANKRUPTCY, WORKOUTS, & RESTRUCTURES

The Financial Services Team has represented:

  • A secured lender in defending against action to avoid lien on real estate based claim of constructive fraud.
  • A domestic oil and gas company in restructuring and the associated refinancing.
  • A post-petition secured lender by obtaining first priority priming lien for  with $50 million in performance bond claims in Chapter 11 case of large Central Texas construction company; included liquidation of significant heavy-equipment assets.
  • The indenture trustee of $100 million in international bonds issued by Brazilian company that filed for bankruptcy in Brazil and a U.S. Chapter 15 Foreign Bankruptcy Proceeding.
  • A secured lender group in the Chapter 11 proceedings of well-known restaurateur. Successful in defeating a management plan and confirming competing plan proposed by Lender Group.
  • An agent in workout in which 27 real estate properties of various types in 19 states were conveyed to a liquidating trust, including horse farms and timberland.
  • A lender in workout of $170,000,000 in real estate loans resulting in the conveyance to special purpose entity of 21 properties in Texas.
  • A lender in defeating Chapter 11 Debtors “Roll Up” case involving $ 20 Million in real estate properties.
  • A lender in workout of $20 million obligation secured by aircraft.
  • A lender in workout of obligation secured by trucking inventory manufactured overseas.
  • A lender in Chapter 11 reorganization of psychiatric hospital.
  • A lender in Chapter 11 case of outpatient surgery center.
  • A lender in Chapter 11 reorganization of real estate development company in Grapevine, Texas.
  • A lender in recovery of fraudulent transfer judgement against principals of Debtor manufacturing company.
  • A lender in Chapter 11 case of Debtor that provided brokerage clearing and clearing-related operational technology services.
  • A restaurant operation in workout of $3.0 million obligation.
  • A U.S. indenture trustee on behalf of holders of $100 million in notes issued by Mexican company which filed for bankruptcy in Mexico.
  • An agent in workout in which 27 real estate properties of various types in 19 states were conveyed to a liquidating trust, including horse farms and timberland.
  • A lender in workout of $170,000,000 in real estate loans resulting in the conveyance to special purpose entity of 21 properties in Texas.
  • Lenders in workouts of mortgage warehouse facilities.
  • A global media company in professional sports franchise bankruptcy.

BLOG

NEWSLETTER

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Consumer Financial Protection Bureau: An Overview

Written by Alyson Blatney and Ginny Webb on December 17, 2015

The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 established the Consumer Financial Protection Bureau (CFPB) in July 2010. The CFPB’s purpose is to supervise and enforce laws related to consumer financial products and services. Part of the CFPB’s role is to create rules to better oversee certain consumer finance markets. While the Read More…


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Texas Lenders’ Foreclosure Tools

Written by Alison Cross on November 4, 2015

Any lender who has worked on a foreclosure understands that a single mistake can be costly. Notices must be delivered on time in the exact manner specified by statute, and the procedures for conducting the sale must be strictly followed. An innocent mistake can result in an invalid foreclosure sale, which is in nobody’s interest. Read More…


Oil Pumps

Energy Borrowing Bases Expected to Fall This Fall

Written by Austin S. Conner on September 14, 2015

What a difference a year makes. Last autumn, although oil prices were declining from their June 2014 peak of $112 per barrel (bbl) for Brent crude oil, September 2014 oil prices remained in the relatively robust $90-$95/bbl range. September 2015 oil prices, however, reflect a drastically changed market, with prices beginning the month in the Read More…


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Lockbox Accounts in Mexico

Written by John Rogers and Francisco Perez Ortega on August 6, 2015

A party extending a loan to a Mexican borrower might require that the borrower’s accounts receivable be paid directly into a blocked bank account, frequently referred to in U.S. parlance as a “lockbox account,” at a commercial bank. In such an arrangement, the lender usually requires the borrower to issue a standing instruction to the Read More…


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Calculating Deficiencies and Offsets: How to Make Fair Market Value Truly Fair

Written by Alison J. Cross on July 15, 2015

During the foreclosure process, lenders often purchase the subject property for an amount insufficient to cover the debt owed by the borrower. When this occurs, the lender may pursue a deficiency suit to recover the outstanding amount from the borrower or guarantor. Under Texas Property Code Section 51.003, the borrower or guarantor in such a Read More…


MEDIA

HONORS

Strasburger’s financial services lawyers are recognized leaders who provide legal services to all types and sizes of financial institutions. These clients include commercial banks, thrift institutions, commercial finance units and conduit lenders, securities firms, investment funds and corporate trust departments, as well as branches and agencies of foreign banks. Our attorneys handle lending and other financial transactions along with corporate trust, litigation and bankruptcy and workout matters.

Strasburger’s financial services team currently represents twenty-two money center, regional and Texas banks. A special team within the industry group handles national mortgage litigation matters in twenty-four states for a money center bank.

LENDING

Strasburger’s  financial services lawyers are highly regarded for their abilities in representing domestic and foreign banks, thrift institutions, investment funds and other financial institutions as well as corporate and other business borrowers, in both secured and unsecured commercial credit facilities. For a complete overview of our lending expertise, click here.

LITIGATION

Strasburger represents banks, savings and loan associations, credit unions, credit-reporting agencies (and their officers and directors) in all types of litigation: collection and enforcement of judgments, including extraordinary remedies, such as injunction actions involving real estate and other bank collateral, sequestration, attachment, and garnishment. For a complete overview of our financial litigation expertise, click here.

BANKRUPTCY, WORKOUTS & RESTRUCTURES

Strasburger’s bankruptcy and restructure lawyers represent financial institutions in restructurings, out-of-court workouts and bankruptcy cases, including all aspects of bankruptcy restructuring and litigation. For a complete overview of our financial restructuring expertise, click here.

The firm’s industry leaders are available to answer any questions about Strasburger’s capabilities. To learn more about our experience in this industry, please contact Bob Franke.

EXPERIENCE

COMMERCIAL & INDUSTRIAL LENDING

The Financial Services Team has represented:

  • An agent in a US $2.6 billion equivalent global credit facility to a publicly traded REIT involving U.S., Canada, Euro, Japan, Korea, and China tranches.
  • An agent in a $1.5 billion revolving credit and letter of credit facilities to a publicly traded national homebuilder.
  • An agent in a $1.21 billion revolving credit facility to a publicly traded national homebuilder.
  • An agent in a $450 million revolving credit facility to a publicly traded national homebuilder.
  • An agent in a $400 million multi-year revolving credit facility and $100,000,000 364-day multi-currency revolving credit facility to a publicly traded real estate investment trust.
  • An agent in a $400 million corporate financing to an international contractor and servicing company.
  • An agent in a $350 million mortgage warehouse facility.
  • An agent in a $320 million advancing term loan facility to facilitate acquisition financing and refinancing of publicly traded senior notes secured by multiple hotel properties.
  • An agent in a $200 million corporate loan to a NYSE entertainment company.
  • A lender in $60 million loan secured by assets of cable television companies.
  • A lender in a $20 million revolving credit, term loan and letter of credit facilities to an international trade financing company secured by receivables.
  • A developer in a $10 million loan and the subsequent sale of such loan into a securitized package of loans which required the issuance by this law firm of a non-consolidation opinion.
  • A lender in a $5 million loan to a New York limited liability company for the purchase of an asset from a bankrupt Enron subsidiary and then secured the loan with the asset.
  • A lender in line of credit facilities to international manufacturing and services company, guaranteed in part by the Export-Import Bank of the United States.

REAL ESTATE LENDING

The Financial Services Team has represented:

  • A lender in $69 million construction loan for Park Towers, two 22-story luxury condominium million towers in the Hughes Center, Las Vegas, Nevada.
  • An agent in $24 million construction loan for The Crescent office, hotel and retail complex in the Uptown area of Dallas.
  • A lender in $66 million mixed-use development in Houston.
  • A lender in $15 million retail shopping development in Katy, Texas.
  • A lender in development of private municipal water system.
  • A lender in $60 million construction loan for office, residential and retail project in Atlanta, Georgia.
  • A lender in $60 million acquisition loan for Fiesta Mall in Phoenix, Arizona.
  • A lender in $50 million construction loan for portfolio of manufacturing facilities in cities in California and Kansas.
  • A lender in $18 million acquisition line for seven department stores in five Midwest and southwestern states.
  • A lender in $12 million construction loan for student housing at the University of Nebraska-Omaha.
  • A lender in $18 million construction loan for the groundbreaking Meridian apartment project in the Uptown area of Dallas.
  • A lender in $20 million revolving construction line of credit to national homebuilder.

SYNDICATED LENDING

The Financial Services Team has represented:

  • An agent in a US $2.6 billion equivalent global credit facility to a publicly traded REIT involving U.S., Canada, Euro, Japan, Korea, and China tranches.
  • An agent in a $1.5 billion revolving credit and letter of credit facilities to a publicly traded national homebuilder.
  • An agent in a $1.21 billion revolving credit facility to a publicly traded national homebuilder.
  • An agent in $750 million financing secured by six petrochemical plants and 600 miles of interconnecting pipelines.
  • An agent in a $450 million revolving credit facility to a publicly traded national homebuilder.
  • An agent in a $400 million multi-year revolving credit facility and $100,000,000 364-day multi-currency revolving credit facility to a publicly traded real estate investment trust.
  • An agent in a $320 million advancing term loan facility to facilitate acquisition financing and refinancing of publicly traded senior notes secured by multiple hotel properties.
  • An agent in a $400 million corporate financing to an international contractor and servicing company.
  • An agent in a $350 million mortgage warehouse facility.
  • An agent in a $200 million corporate loan to a NYSE entertainment company.
  • An agent in financing secured by 26,000 miles of natural gas pipelines.

ENERGY LENDING

The Financial Services Team has represented:

  • A borrower in $25 million financing for acquisition of petroleum refinery, pipeline and service stations in West Texas.
  • An agent in $2 billion financing secured by 26,000 miles of natural gas pipelines.
  • Offering of $130 and $150 million series senior notes for U.S. oil field service companies.
  • An agent in $750 million financing secured by six petrochemical plants and 600 miles of interconnecting pipelines.
  • An agent in $60 million secured revolving credit and term loan facilities to an oilfield services company to provide financing for a corporate acquisition.
  • A lender in a $25 million reserve based loan to an independent producer.
  • An international company in refinancing its senior debt in connection with the restructuring of U.S. and foreign subsidiaries of the company and sale of $90 million of offshore oil and gas properties.
  • An agent in financing secured by 26,000 miles of natural gas pipelines.
  • An agent in a $100 million reserve based loan secured by producing properties in Oklahoma.
  • A lender in a $35 million secured revolving credit facility to an independent producer.

INTERNATIONAL LENDING

The Financial Services Team has represented:

  • A major European bank in the restructuring of approximately $90 million of indebtedness owed by a Mexican public company to a syndication of lenders.
  • A U.S. corporate trustee in a securitization of receivables aggregating more than $200 million held by a Mexican shipping company.
  • International investors in the restructuring of a $250 million toll road securitization project.
  • An Irish bank in a $100 million financing of a major kitchen equipment manufacturer and its subsidiaries in the U.S. and Mexico, secured by shares of such subsidiaries and other assets.
  • An international project company in a project financing for electricity transmission lines in Mexico.
  • A major European bank in a $75 million syndicated bridge financing for acquisition of majority stake of a Mexican retail business.
  • A Mexican airline company in the financial leasing of two new aircraft with a total value of $70 million.
  • A U.S. corporate trustee in modifying four Mexican project finance transactions to reflect the sale of its corporate trust business to another financial institution.
  • A European bank in a $44 million loan to a Mexican sugar producer, and in a later workout of the debt that resulted in a collection of 100 cents on the dollar.
  • A Spanish bank in preparation of loan documents for extending a $42 million loan to a Spanish-Mexican hospitality developer.
  • A publicly traded U.S. company in a $3 million loan to a Costa Rican company to finance the purchase of equipment from a U.S. seller, with collateral security in the U.S. and in Costa Rica.
  • A Mexican local telephony provider in a $22 million vendor financing facility.
  • A U.S. indenture trustee for holders of $100 million in bonds, in a Mexican bankruptcy proceeding filed by a major engineering firm with over $800 million in debts.
  • A U.S. trucking company in a multi-million dollar loan to a Mexican transportation company, convertible into equity if and when foreign investment in this sector is permitted.
  • A Hong Kong company in a $10 million loan secured by Mexican real property, including interest in agrarian property.
  • A Cayman Islands lender to a Canadian mining company, with the loan secured by shares of the company’s Mexican mining subsidiary.
  • A U.S. energy company in connection with a floating production storage vessel project in Thailand.
  • A Mexican company in connection with an acquisition of a Texas company.
  • Assisted with representation of a Mexican borrower with acquiring a bridge loan for approximately $30 million to sustain operations during the period prior to closing of the sale of its operations in a stock purchase transaction from a British private lender.
  • Assisted with representation of a U.S. bank in a number of loan transactions to Mexican individuals and companies varying up to $70 million.
  • Assisted with representation of a U.S. bank in a revolver loan transaction to a Spanish company.

LITIGATION

The Financial Services Team has:

  • Represented national bank in litigation involving claims of fraud and breach of complex loan agreement secured by hundreds of oil and gas leases and negotiated settlement.
  • Obtained settlement of lender liability claim in which plaintiff sought to cancel $17 million debt and to recover $22 million for destruction of business.
  • Represented bank in lender liability action by cotenant in a shopping mall alleging that bank which made $29 million construction loan to refurbish the mall conspired with the other cotenants and aided and abetted breach of contract, fraud, and deceptive trade practices, and companion declaratory judgment action by bank seeking declaration that the execution of the note and deed of trust was authorized by the cotenancy agreement and that the debtor was estopped from contesting their validity.
  • Handled appeal of $880,000 judgment against bank in a wrongful foreclosure action brought by guarantor whose corporate stock was purchased at private foreclosure sale by secured creditor bank.
  • Obtained summary judgment for bank holding a first-filed security interest in debtor’s accounts receivable in conversion action against supplier of x-ray equipment who claimed a purchase money security interest in debtor’s accounts receivable.
  • Obtained summary judgment on behalf of credit union in suit for alleged bad faith demand for additional collateral, breach of contract, wrongful acceleration, fraud, deceptive trade practices, and usury, seeking $7 million and recovery of over $1 million on the credit union’s counterclaim.
  • Defeated a claim against the bank for breach of good faith and fair dealing, fraud and negligence, and recovered on the bank’s counterclaim for fraudulent transfer in a case involving $300,000 in forged postal money orders.
  • Settled action by bank shareholder against bank for fraud and breach of contract for failure to use best efforts to sell bank stock.
  • Obtained summary judgment for $640,000 for fidelity insurer for credit union in subrogation action against foreign national who withdrew unauthorized funds deposited into his account by credit union employee and deposited them in national bank.
  • Obtained summary judgment for credit union in defamation action by a customer brought against the credit union and credit-reporting agency, based on alert which implicated his account in check-kiting activity without specifying that he was a victim.
  • Represented creditor in suit to recover for bank’s alleged conversion of cash proceeds from sale of collateral in which creditor claimed prior interest.
  • Obtained dismissal of claim against bank for payment of $200,000 check over unauthorized endorsement.
  • Represented secured party in action against motorcycle retailer after retailer had allegedly defaulted under wholesale financing agreement that granted secured party a purchase money security interest. Obtained temporary restraining order and writ of sequestration to recover collateral.
  • Obtained judgment for bank in trial court and on appeal in case brought by drawer of check arising out of payment of funds over a forged endorsement.
  • Negotiated pre-suit settlement of aircraft repair facility’s lien to facilitate bank’s foreclosure on aircraft held by repair facility.
  • Obtained temporary restraining order preventing the removal and disposition of golf carts pledged as collateral on loan and negotiated delivery of collateral prior to temporary injunction hearing.
  • Obtained reversal on appeal of punitive damage award against bank arising out of attempted foreclosure.
  • Obtained dismissal of suit against bank for $100 million in damages arising out of its alleged participation in a fraudulent insurance scheme.
  • Obtained dismissal prior to class certification of nationwide consumer class action alleging violations of RESPA in consumer home loans for national bank.
  • Obtained voluntary withdrawal of class-certification allegations and complete settlement of nationwide class action against mortgage company alleging RESPA violations in residential mortgages.
  • Protected first lien interests of national banks and lending institutions in criminal forfeiture and tax lien actions.
  • Obtained summary judgment and recovery of attorneys’ fees for national bank serving as a corporate fiduciary in complex litigation alleging breach of fiduciary duty in management of assets.
  • Obtained dismissal, including agreement of no liability, for a national bank serving as a corporate fiduciary in a complex breach of fiduciary duty and tort case.
  • Obtained settlements for national banks serving as corporate fiduciaries after significant litigation of complex probate, trust and fiduciary disputes.
  • Successfully terminated trusts and litigated resignations of corporate fiduciaries on behalf of national banks in disputes with beneficiaries.
  • Represented member of bank group in litigation against an agent bank in syndicated loan.
  • Represented national bank in over 300 suits involving garnishments, temporary restraining orders, injunctions and receivership.

BANKRUPTCY, WORKOUTS, & RESTRUCTURES

The Financial Services Team has represented:

  • A secured lender in defending against action to avoid lien on real estate based claim of constructive fraud.
  • A domestic oil and gas company in restructuring and the associated refinancing.
  • A post-petition secured lender by obtaining first priority priming lien for  with $50 million in performance bond claims in Chapter 11 case of large Central Texas construction company; included liquidation of significant heavy-equipment assets.
  • The indenture trustee of $100 million in international bonds issued by Brazilian company that filed for bankruptcy in Brazil and a U.S. Chapter 15 Foreign Bankruptcy Proceeding.
  • A secured lender group in the Chapter 11 proceedings of well-known restaurateur. Successful in defeating a management plan and confirming competing plan proposed by Lender Group.
  • An agent in workout in which 27 real estate properties of various types in 19 states were conveyed to a liquidating trust, including horse farms and timberland.
  • A lender in workout of $170,000,000 in real estate loans resulting in the conveyance to special purpose entity of 21 properties in Texas.
  • A lender in defeating Chapter 11 Debtors “Roll Up” case involving $ 20 Million in real estate properties.
  • A lender in workout of $20 million obligation secured by aircraft.
  • A lender in workout of obligation secured by trucking inventory manufactured overseas.
  • A lender in Chapter 11 reorganization of psychiatric hospital.
  • A lender in Chapter 11 case of outpatient surgery center.
  • A lender in Chapter 11 reorganization of real estate development company in Grapevine, Texas.
  • A lender in recovery of fraudulent transfer judgement against principals of Debtor manufacturing company.
  • A lender in Chapter 11 case of Debtor that provided brokerage clearing and clearing-related operational technology services.
  • A restaurant operation in workout of $3.0 million obligation.
  • A U.S. indenture trustee on behalf of holders of $100 million in notes issued by Mexican company which filed for bankruptcy in Mexico.
  • An agent in workout in which 27 real estate properties of various types in 19 states were conveyed to a liquidating trust, including horse farms and timberland.
  • A lender in workout of $170,000,000 in real estate loans resulting in the conveyance to special purpose entity of 21 properties in Texas.
  • Lenders in workouts of mortgage warehouse facilities.
  • A global media company in professional sports franchise bankruptcy.
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