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Richard S. Schmidt — An Opinion You Can Trust

I spent more than 40 years as a judge in Corpus Christi, Texas. As such, I have overseen a number of high-profile cases that have given me unique insight into bankruptcy proceedings. If you're going to consult with anyone on bankruptcy filing, I'm one of your best options.


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

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

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 union contract dispute with a transportation company.

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

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 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

Complex Chapter 11 in which competing plans of reorganization were litigated and a creditor plan was confirmed. Texas and Wyoming mechanics and materialmen'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. Complex Chapter 11 case involving claims by surface owners for environmental damage cause by pipeline and 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

Reorganization of $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

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