Holland N. O'Neil

Holland O’Neil is a skilled financial restructuring and reorganization partner, focusing primarily on corporate restructurings, with over 30 years of experience. She is well-regarded in the bankruptcy bar among judges and financial and other advisors and she is described by clients in Chambers USA as “a top-notch lawyer,” receiving praise for her courtroom presence and negotiating skills.

Holland practices not only in Texas, but in jurisdictions across the United States. She assists companies with complex bankruptcies, restructurings and workouts, acquisitions of distressed assets and bankruptcy litigation. She and her team members have represented clients in all aspects of turnarounds and restructurings, as well as provided assistance with other corporate needs, in numerous industries, including:

• Electric cooperatives/utilities
• Equipment suppliers
• Healthcare
• Hospitality
• Manufacturing
• Oil and gas/energy
• Real estate
• Restaurants/food service
• Retail
• Telecommunications
• Transportation

Holland's clients include debtors in possession, creditors’ and equity holders' committees, examiners, secured and unsecured creditors and trustees and parties interested in acquiring assets from troubled companies.

Holland is a member of the firm's Management Committee and was formerly the chair of Gardere Wynne Sewell LLP immediately prior to its merger with Foley.

Representative Matters

• Patriot Well Solutions and its subsidiaries: Currently representing the Official Committee of Unsecured Creditors of Patriot Well Solutions in the Southern District of Texas.
• CARBO Ceramics Inc. and its subsidiaries: Represented the Official Committee of Unsecured Creditors in the bankruptcy cases of this sand mining and proppant manufacturing company and its subsidiaries. After a significant valuation dispute, a settlement resulting in an agreed confirmed plan was negotiated. The creditors of the parent entity are projected to receive four times the initial plan proposal and the subsidiary creditors are to be paid in full. “The committee played a very valuable role in this case. I think it should give everyone confidence in the system that we had a committee that came in, I think under difficult circumstances, with a Debtor that is really on its back, and fought very hard and received substantial benefits for it constituency.” - J. Isgur, Transcript of Conf. Hrg. [Doc. 543, p.33].
• Highland Capital Management, L.P. and related affiliates: Represents Highland Capital, a multibillion-dollar private equity fund, in the involuntary bankruptcy proceedings of its former portfolio affiliates, Acis Capital Management LP and Acis Capital GP, LLC. Highland Capital Management is currently in a Chapter 11 proceeding and Holland serves as special counsel to the Debtors.
• Hi-Way Equipment Company and subsidiaries: Represented Debtors, which was one of the largest dealers of CASE construction equipment, lawn and finish mowers and other heavy equipment in Texas, New Mexico and surrounding states. Successfully negotiated a plan of reorganization that facilitated the sale of the business to a strategic buyer.
• Linens-N-Things and related affiliates and subsidiaries: Represented Debtors, as bankruptcy co-counsel with Richards Layton & Finger (Delaware) and corporate counsel, in one of the largest retail and cross-border bankruptcies in the United States and Canada
• Berry Family of Nurseries (BFN Operations LLC) and related subsidiaries: Represented Debtors, which were among the largest wholesale plant and flower growers in the United States. The bankruptcy proceeding involved a divestiture of segments of the company and multiple §363 sales in bankruptcy.
• Assured Risk Transfer, et al: Represents BlackRock-backed financier of multimillion-dollar offshore oil rig and related equipment intertwined in the bankruptcy proceeding of Transoceanic Products and Development Co.
• Shale Support Holdings LLC and subsidiaries: Represents the Official Committee of Unsecured Creditors in the bankruptcy case of this sand mining company and its numerous subsidiaries. Consensual plan of reorganization was recently confirmed, with unsecured creditors receiving a significant recovery based on the applicable debtor obligor.
• Vanguard Resources and its subsidiaries: Represented the Official Committee of Equity Security Holders in this major debt restructuring of this large energy and production (E&P) company, whereby much of the bond debt was converted to equity. Holland negotiated a minority new equity carve-out for her constituency.
• RE Loans, et al.: Represented the Debtors as co-bankruptcy counsel with Gibson Dunn on this multimillion-dollar restructuring of a portfolio of commercial real estate loans for properties throughout the continental United States. Successfully negotiated multiple plans of reorganization with the major constituencies.
• Saratoga Resources and its subsidiaries: Represented the Official Committee of Equity Security Holders in debt restructuring of large E&P company, which resulted in confirmation of a consensual plan of reorganization
• Texas Rangers Baseball LLC: Represented GSP Finance, as the Administrative Agent and the Second Lien Lenders in one of the few bankruptcy proceedings of a major league baseball team in the United States. Was integral in facilitating a bankruptcy auction for the ownership of the team, which resulted in one of the highest sums paid for a major league baseball team at that time.
• Brazos Electric Power Cooperative Inc.: Represented Brazos Electric in the bankruptcy proceeding of Ponderosa Pine Energy Partners Ltd. and its affiliates pending in Newark, New Jersey, which resulted in Brazos Electric’s acquisition of all of the debtor’s assets upon confirmation of a joint plan of reorganization presented by Brazos Electric and JPMorgan Chase and payment in full of all creditors
• Hospital Acquisition LLC (dba LifeCare Behavioral Hospitals, etc.), et al.: Represented putative stalking horse bidder of multistate behavioral hospitals
• William K. Snyder, Examiner: Represented the Debtors’ Examiner in the multibillion-dollar bankruptcy proceeding of Mirant Corp. and its 82 related affiliates
• CoServ Electric: Represented Debtors, including electric and gas utilities and their telecom, real estate and related affiliates in the bankruptcy restructuring of more than $1.2 billion in debt. Although contentious initially, three separate consensual plans of reorganization were confirmed with creditors receiving 100 percent under each of the utility, real estate and telecom reorganization plans.
• Renaissance Hospital Group and related affiliates: Represented Debtors in this multicity group of hospitals and physician practices business
• Essilor of America: Represented this world leader in ophthalmic optics and key player in visual health solutions with various strategic §363 acquisitions in bankruptcy proceedings
• Official Committee of Unsecured Creditors of Furr’s Restaurant Group Inc., et al. and COLP Creditors’ Trust: Represented Official Committee of Unsecured Creditors in bankruptcy undertaking to downsize and restructure its cafeteria restaurant and food distribution businesses, ultimately sold to a strategic buyer as a going concern. Holland also represented the post-confirmation creditors’ trust.
• Official Committee of Unsecured Creditors of FFP Operating Partners, L.P.: Represented Official Committee of Unsecured Creditors in FFP Operating’s undertaking to restructure its national chain of convenience stores and gas retail stores. The Committee co-sponsored the exit plan for the debtors.
• Guaranty Financial Corporation: Represented certain officers and members of the board of directors in the bankruptcy proceeding of this holding company of Guaranty Financial Bank in conjunction with allegations of fiduciary duty breaches related to pre-bankruptcy spinoff transactions
• LJM2 Statutory Trust B and Dresdner Bank, N.A., Agent: Represented Bank Group in the bankruptcy proceeding of LJM2, a strategic affiliate of Enron Corp. Holland also represented the post-confirmation creditors’ trust.
• Eagle Geophysical, Inc.: Represented Debtors, including their 16 subsidiaries and affiliates, in a corporate reorganization, which included domestic and cross-border issues involving the United Kingdom, Argentina and Canada
• Dumoulin, Inc., et al.: Represented Debtors, which were wholesale suppliers of linens and electronic equipment to hotel chains, in out-of-court liquidation process under “assignment for the benefit of creditors” proceedings under applicable state law
• Vitro Asset Corp., et al. (Binswanger Glass): Served as special counsel to the Debtors in this multibillion-dollar cross-border insolvency proceeding relating to the restructuring of one of the largest producers and distributors of glass products in the world. Involved multiple proceedings in the United States and Mexico, including a Ch. 15 cross-border proceeding.
• Provident Royalties LLC, et al.: Represented the Official Committee of Unsecured Creditors in this highly contentious bankruptcy proceeding, where the owners of the business were found to be involved in a broad-based Ponzi-scheme in the purchase and sale of oil and gas royalty interests. Plan of reorganization resulted in all creditors being paid in full and a significant litigation recovery to the defrauded equity holders around the country.
• Eastern 1996D Limited Partnership and related affiliates: Represented the Official Committee of Unsecured Creditors in the bankruptcy of these partnerships, which invested in oil and gas interests. After significant litigation, a consensual plan of reorganization was negotiated that provided a substantial recovery to the creditors and settlement of all litigation claims.
• Current out-of-court restructuring engagements:
  • Representing public E&P company in pre-filing negotiations with lender and bondholders
  • Representing one of the largest suppliers of aftermarket auto repair and maintenance warranties and related insurance products in restructuring negotiations
  • Representing public financial technology company in restructuring negotiations
  • Representing large logistics provider in out-of-court acquisition of distressed competitor
  • Representing multichain, multistate assisted living and memory care facilities owner in out-of-court restructuring

Professional Affiliations

• Member, State Bar of Texas
• Member, State Bar of Arizona
• Member, American Bankruptcy Institute
• Member, Turnaround Management Association
• Member, American Bar Association
• Member, Dallas Bar Association
  • Member, Bankruptcy Law Section
• Member, Association of Women Attorneys
• Member, Texas Bar Foundation

Community Involvement

• Member, Dallas Citizens Council
  • Board of Directors (2015-2021)
  • Member, Communications Sub-Committee
• Texas Tech University School of Law Foundation Board (2017-present)
  • Incoming Chair - Governance Committee

Honors & Awards

• Selected by Lawdragon as one of the 500 Leading U.S. Bankruptcy and Restructuring Lawyers (2020, 2022)
• Commencement Speaker, Texas Tech University School of Law, Graduating Class of 2020 (May 2020)
• Recognized, The Best Lawyers in America© in the fields of:      
  • Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law (2006-2024)
  • Litigation - Bankruptcy (2011-2024)
• Recognized, IFLR1000
  • Banking, Energy, Financial Restructuring, Healthcare & Project Finance (2018)
• Recognized, The Dallas 500, D CEO magazine (2016-2018)
• Recognized, Chambers USA: America’s Leading Lawyers for Business
  • Bankruptcy/Restructuring (Texas) (2004-2023)
• Recognized, Best Lawyers in Dallas, D Magazine
  • Bankruptcy (2012, 2015, 2018)
• Recognized, Texas Super Lawyers^® list as published in Texas Super Lawyers^® Magazine
  • Bankruptcy & Creditor/Debtor Rights (2003-2018)
• Association of Women Attorneys – Recipient of “Women at the Pinnacle of the Legal Profession” Award (2015)
• Houston Business Journal - “Who's Who in Law - Bankruptcy” (2015)
• Recipient, Distinguished Alumni Award, Texas Tech University School of Law (2015)
• Recipient, ICFM 100 Leading Female Lawyers Award (2014)
• Chambers USA, Women in Law – finalist for Outstanding Contribution to Gender Diversity (Private Practice) Award (2014)
• Recognized, D CEO magazine– Women Leaders in Law (2014)
• Co-Recipient, Turnaround Award: Healthcare and Life Science Deal of the Year (Over $100 Million) (award recognizes the leading distressed investing, restructuring and turnaround professionals across the United States and international markets) (2013)
• Recognized, The Best Women Lawyers in Dallas, D Magazine (2010)
• Recognized, AV Preeminent^® 5.0 out of 5 Peer Review Rated, Martindale-Hubbell^® Peer Review Ratings™

Education

• Texas Tech University School of Law (J.D., 1987)
  • Editor-in-chief, Texas Tech Law Review (1986, 1987)
• The University of Texas at Austin McCombs School of Business (B.B.A., 1983)
  • Finance

Admissions

• Texas (1987)
• Texas State Courts (1987)
• Arizona State Courts (1990)
• U.S. District Court for the District of Arizona
• U.S. District Court for the Eastern, Northern, Southern and Western Districts of Texas
• U.S. Court of Appeals for the Fifth Circuit