Case Overview

Representing Kerwin Stephens in his pending Chapter 11 bankruptcy case. Prior to filing bankruptcy, an adverse judgment had been entered against Stephens in connection with an oil & gas deal. After a decade of litigation and appeals, the claims of two remaining plaintiffs had yet to be established by final judgment. The firm’s attorneys assisted Stephens in initiating a Chapter 11 bankruptcy case and then removed the state court litigation to bankruptcy court. In the removed litigation, the Firm’s attorneys filed briefs contending that the jury verdict did not support claims against Stephens under any legal theory. Thereafter, the Bankruptcy Court entered a “take nothing” judgment against plaintiffs and in favor of Stephens. The claimants appealed the take-nothing judgment to the District Court, which initially reversed the Bankruptcy Court order. The firm filed a motion to reconsider with the District Court, which is pending. In the bankruptcy case, the firm is assisting Stephens in formulating a Plan of Reorganization that is expected to pay allowed creditor claims in full.