Bob Casey United States Courthouse, Southern District of Texas Bankruptcy Court at 515 Rusk St, Houston, Texas 77002. Credit: Google street view Major Debtors Still Frequent SDTX 1 Year After Jones-Freeman Scandal
Data from Debtwire shows a modest decline in large Chapter 11s filed in Houston since news of the relationship between Judge David R. Jones and former Jackson Walker partner Elizabeth Freeman broke last October.
October 16, 2024 at 06:24 PM
3 minute read
What You Need to Know
- Big Law has hardly shied away from the Southern District of Texas in the year since the relationship between Judge David R. Jones and former Jackson Walker partner Elizabeth Freeman was exposed.
- The district has received 37% of all 'mega cases' in the past year, down from a five-year average of 47% of mega cases.
- While frequent Jackson Walker co-counsel Kirkland & Ellis has shifted filings toward New Jersey and Delaware, other large firms continue to place major Chapter 11s in Houston.
Large Chapter 11 filings in the U.S. Bankruptcy Court for the Southern District of Texas have declined slightly in the year since the relationship between former U.S. Bankruptcy Judge David R. Jones and former Jackson Walker partner Elizabeth Freeman became public, according to a new report from Debtwire.
Since last October, 37% of debtors with more than $1 billion in funded debt, or "mega cases," have filed in Houston's two-judge complex bankruptcy panel, coming in below the five-year average of 47%. The jurisdiction received 19% of Chapter 11s with more than $100 million in funded debt during the same period, down from a five-year average of 26%.
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