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Nuts and Bolts of Corporate Bankruptcy 2020


Speaker(s): Alan D. Halperin, Barbra R. Parlin, David B. Shemano, David G. Epstein, Elizabeth (Lisa) Feld, Evan C. Hollander, Frank Grese, Gabriel Sasson, Hon. Martin Glenn, Janet M. Weiss, Lisa G. Beckerman, Lisa M. Schweitzer, Lorraine S. McGowen, Michael H. Goldstein, Paul J. Pascuzzi, Pedro A. Jimenez, Sandy Qusba, Trevor Hoffmann
Recorded on: Dec. 1, 2020
PLI Program #: 275446

Pedro A. Jimenez is a partner in the Restructuring practice of Paul Hastings and is based in the firm’s New York office. Mr. Jimenez focuses his practice on cross-border bankruptcy and restructuring matters in Asia and Latin America and has actively participated in a number of high profile bankruptcy and restructuring matters, including Avianca Airlines, AeroMexico, LATAM Airlines, Cal Dive, Chrysler Corporation, Dana Corporation, General Maritime, Grupo Isolux, Lyondell Basell, Omega Navigation, Overseas Shipholding Group, Spansion Corporation, and Takata Corporation.

Mr. Jimenez has extensive cross-border experience in advising clients on global restructurings, Chapter 11, and Chapter 15 cases. His out-of-court and in-court company representations span across multiple industries including, automotive, entertainment and media, manufacturing, insurance, and energy. Most recently, Mr. Jimenez represented Maxcom Telecomunicaciones and PT Arpeni Pratama Ocean Line, two foreign issuers of U.S. bonds, in their prepackaged cases under Chapter 11 of the United States Bankruptcy Code, and is also part of the teams in sovereign restructuring matters including Puerto Rico, Trinidad Petroleum, and PDVSA.

Mr. Jimenez has lectured and authored numerous articles on cross-border insolvency matters and is a member of the American Bar Association, the American Bankruptcy Institute, and INSOL International.

 


Barbra Parlin is a partner in Holland & Knight's New York office and a member of the firm's Litigation Section.  Ms. Parlin’s practice focuses on advising parties involved in complex commercial insolvency and restructuring proceedings, as well as related litigation and transactional matters.  She represents both U.S.-based and foreign companies, court appointed liquidators, indenture trustees, secured and unsecured lenders, asset buyers, landlords, licensors, parties to prepetition contracts and leases and litigants in adversary proceedings in connection with both domestic and cross-border insolvency cases and out of court restructurings and wind-down proceedings.  In addition, Ms. Parlin advises clients on the business aspects of bankruptcy and workouts, providing counsel with respect to pre-bankruptcy planning, transaction review, claims, distressed asset sales, and lending and investment strategies.  Her experience crosses a broad array of industries, including corporate and structured finance, securities, manufacturing, transportation, construction, real estate, higher education, energy, technology, telecommunications, retail, healthcare, resort and hospitality, leasing, professional firms, maritime and aviation. She appears on behalf of clients in matters pending in bankruptcy courts around the country, as well as in other state and federal courts.

Ms. Parlin also has broad experience in matters concerning corporate governance and fiduciary duties, director and officer liability, derivative actions, securities and common law fraud litigation and investigations, and other commercial litigation. She has advised boards of directors with respect to their fiduciary obligations and has managed a broad range of litigation matters, including bankruptcy and avoidance litigation, securities fraud, shareholder derivative litigation, SEC investigations, merger and acquisition (M&A) litigation, corporate governance actions, construction litigation, directors' and officers' insurance issues, and other general commercial litigation.

Ms. Parlin graduated magna cum laude from Yale University in 1990, and cum laude from New York University School of Law in 1993.

Ms. Parlin has served as the Holland & Knight New York office recruiting partner, chair of the New York office diversity committee, and as partner-coordinator of the New York office Women's Initiative.  She currently is a member of the New York office operations committee.

Ms. Parlin is a member of the advisory board for the annual New York City ABI Conference.


Evan Hollander, partner in Orrick’s New York Office, is a member of the firm’s Restructuring Group.

Evan has over 25 years of experience representing debtors, secured creditors, holder of fulcrum securities, potential acquirers, and independent directors in complex U.S. and cross-border restructuring matters. Mr. Hollander is equally comfortable in the courtroom as he is at the negotiating table and the boardroom, and has extensive experience crafting and implementing restructuring plans. He also frequently assists parties interested in acquiring debt and equity securities of distressed companies.

Evan frequently writes on insolvency related topics and routinely appears on panels at industry conferences.

 

 


Frank Grese is a partner in Baker McKenzie's Global Restructuring and Insolvency Group in New York. He has represented debtors, creditors, lenders, investors, and acquirers of assets in various aspects of distressed situations in and out of court. Frank is also actively involved in pro bono work, which has been recognized by the Legal Aid Society and the New York Bar Association.

Practice Focus

Frank's practice focuses on business reorganizations, and debtor and creditors' rights.

Representative Legal Matters

  • Debtor and company-side representations include: Takata Corporation and certain of its affiliates in their chapter 15 cases; Highland Hospitality in its out-of-court restructuring; and KB Toys in its chapter 11 cases.
  • Creditor and other party in interest representations include: Wells Fargo Bank as administrative agent/first lien lender in the Linn Energy/Berry Petroleum chapter 11 cases and the Azure Midstream Partners, LP chapter 11 cases; Hilton in various chapter 11 cases, including the Caesars chapter 11 cases; Harbinger Capital Partners in the LightSquared, TerreStar Networks, TerreStar Corporation and DBSD chapter 11 cases; and GE Capital Aviation Services LLC in the Global Aviation Holdings Inc. chapter 11 cases.
  • Acquirer or purchaser of asset representations include: Corbion NV on its acquisition of chapter 11 debtor TerraVia Holdings, Inc.; Physicians Realty Trust, as secured lender and acquirer of assets in a chapter 11 case in Florida; Medicis Pharmaceutical Corp. on its acquisition of chapter 11 debtor Graceway Pharmaceuticals; and Almatis on its purchase of an alumina refinery from chapter 11 debtor Ormet Corporation.

Admissions

  • New York~United States (2009)
  • Delaware~United States (2009)
  • U.S. District Court, Southern District of New York~United States
  • U.S. District Court, Eastern District of New York~United States
  • U.S. District Court, Delaware~United States

Education

  • Villanova University School of Law (J.D.) (2007)
  • Villanova University School of Business (M.B.A.) (2007)

 


Janet M. Weiss assists clients in achieving their objectives in complex bankruptcy cases and out-of-court restructurings. Whether representing debtors, creditors, strategic buyers or other interested parties, Janet’s strong transactional skills coupled with her practical business sense enable her to develop creative solutions in corporate reorganizations and debt restructurings.

Janet has represented debtors, creditors, committees, secured lenders, debtor-in-possession financiers and acquirers in substantial chapter 11 cases and out-of-court restructurings.  She also has significant experience in bankruptcy litigation, retail insolvencies, and bankruptcy aspects of asset-backed and mortgage-backed financings.  In addition, she has assisted structuring corporate transactions to minimize insolvency risks.

Janet was a partner at Gibson Dunn for more than 15 years and most recently was a partner at Dorsey & Whitney.

Janet is a frequent speaker and writer on bankruptcy and financial restructuring law topics.  She has lectured at ABA, American Bankruptcy Institute, New York City bar and PLI programs.  She has written articles on the intersection of bankruptcy and trademarks, indentures and real estate, among other topics.

Ms. Weiss was educated at the University of Pennsylvania where she earned her B.A., cum laude, and her J.D.


Lisa Beckerman has more than 25 years’ experience advising on corporate restructurings and creditors’ rights, working with clients across the country in a broad range of industries, including manufacturing, airlines, media, energy and real estate. She assists both in Chapter 11 cases and out-of-court restructurings. Her clients in include official creditors’ committees, informal groups of creditors, hedge funds, private equity funds and Debtors. Chambers USA, The Legal 500 US, The Who ’s Who Legal and other key industry publications recognize Lisa as a leading lawyer in her field.


Lisa Feld is a partner in White & Case LLP’s Financial Restructuring and Insolvency group in New York.

She received her undergraduate degree from Colgate University and her law degree from The Law School at the University of Chicago, after which she joined White & Case LLP.

Lisa represents agents, secured and unsecured creditors, and companies in connection with chapter 11 reorganizations, out-of-court restructurings, and related financing transactions.  A few of her recent representations have included: (i) the administrative agent of the US$850 million debtor-in-possession revolving credit facility and in connection with related securitization facilities in the chapter 11 cases of Dean Foods Company (n/k/a Southern Foods Group, LLC) and its subsidiaries, (ii) the prepetition first lien secured lenders in the current and prior Chapter 11 cases of New MACH Gen, LLC (n/k/a NorthEast Gas Generation, LLC) and its subsidiaries, owners and managers of natural gas-fired electric generating facilities, and (iii) the DIP agent and arrangers in the chapter 11 cases of SunEdison, Inc., a global renewable energy company headquartered in the U.S., including in connection with SunEdison’s debtor-in-possession financing comprised of over US$900 million of new money and a roll-up of prepetition debt.

 


Lisa Schweitzer’s practice focuses on financial restructuring, bankruptcy, and commercial litigation, including cross-border matters. She has extensive experience advising corporate debtors, individual creditors and strategic investors in both U.S. Chapter 11 proceedings and restructurings in other jurisdictions in North America, Europe and Asia.

Lisa has served as lead counsel in some of the world’s most high-profile bankruptcy matters across North America, Europe and Asia, advising corporate debtors, creditors and counterparties in U.S. Chapter 11 proceedings as well as in restructurings and risk mitigation advice. Lisa has advised many companies and creditors in various bankruptcy cases, including LATAM Airlines in its voluntary reorganization and restructuring of over $7B of debt under Chapter 11; Vale in its heavily contested litigation of recognition of BSGR’s Guernsey administration through a chapter 15 proceeding, which relates to Vale’s enforcement of a $2B judgment obtained against BSGR; Total S.A. as a major contract counterparty in the McDermott bankruptcy; Grupo Inbursa, a financial services company in Mexico and secured lender to multiple entities in the Mossi & Ghisolfi S.p.A. corporate group (M&G), in the M&G Chapter 11 cases; a shareholder in the PG&E case, and strategic lenders and acquirers in various retail cases.  Lisa also has been providing strategic advice to several Fortune 100 U.S. and multi-national companies on liquidity and restructuring advice arising from the COVID pandemic, and continues to advise several leading financing institutions, including UBS and Credit Suisse in matters relating to their resolution plans.

Lisa has advised clients in some of the most high-profile bankruptcy matters in North America, and her work repeatedly has been recognized by the business and legal press, including Chambers Global, Chambers USA, The Legal 500 U.S., IFLR 1000: The Guide to the World's Leading Financial Law Firms, The International Who’s Who of Business Lawyers and The International Who’s Who of Insolvency & Restructuring Lawyers. Lisa was honored as one of the “Top 250 Women in Litigation” by Benchmark Litigation and as a “Dealmaker of the Year” and “Dealmaker in the Spotlight” by The American Lawyer.

Lisa received a J.D. from New York University School of Law and a  B.A., magna cum laude, from the University of Pennsylvania.

Lisa joined the firm in 1996 and became a partner in 2006.


Lorraine S. McGowen is a restructuring partner at Orrick, a leading global law firm focused on serving the financial, energy & infrastructure and tech sectors.   One of IFLR1000’s Leading Lawyers, she is a seasoned legal practitioner and business advisor involved in the most complex transactions where parties are seeking to maximize recoveries or reduce liabilities.

Recent engagements include representing Toyota (one of the largest creditors with more than $7 billion in claims) in the highly complex global restructuring of Takata Corporation, one of the largest manufacturers and distributors of automotive safety systems, including airbags; representing financial institutions in connection with Puerto Rico’s $70 billion restructuring; representing VMware in connection with the assumption of its vendor contracts and enforcement of its claims in the chapter 11 reorganization of  Windstream and its subsidiaries; and representing several alternative energy PPA counterparties in connection with the assumption of their power purchase agreements and enforcement of their claims in the PG&E chapter 11 bankruptcy case.

She is a member of Orrick’s Management Committee and also co-leads Orrick's Automotive Technology & Mobility Group and its global Diversity, Equity & Inclusion (D&I) Initiative.

As a leading D&I advocate, McGowen creates programs for the legal profession and the community.  She has been recognized as an MCCA Rainmaker, Savoy’s Most Influential Black Lawyers in 2018 and 2015, and Savoy’s Most Influential Women in Corporate America   and received the National Bar Association’s Outstanding Woman at a Majority Firm, NYC Bar Association’s Diversity Champion Award and Legal Outreach’s Pipeline to Diversity Champion Award.

McGowen received her B.S.F.S. from Georgetown University School of Foreign Service, and her J.D. from Columbia University School of Law.

 

 


Martin Glenn was sworn in as a United States Bankruptcy Judge for the Southern District of New York on November 30, 2006.  He received his B.S. degree from Cornell University in 1968 and his J.D. degree from Rutgers Law School in 1971.  He was an Articles Editor of the Rutgers Law Review.

Judge Glenn was a law clerk for Hon. Henry J. Friendly, Chief Judge of the U.S. Court of Appeals for the Second Circuit, from 1971-72. From 1972 until his appointment to the bench, Judge Glenn practiced law with O’Melveny & Myers LLP, in Los Angeles from 1972-85 and in New York from 1985-06, focusing on complex civil litigation, including securities, RICO, financial and accounting fraud, and unfair competition.

Judge Glenn is a member of the following: Committee on International Judicial Relations of the United States Judicial Conference; New York Federal-State Judicial Council; American Law Institute; International Insolvency Institute; American Bankruptcy Institute, New York City Bar; National Conference of Bankruptcy Judges; and Federal Bar Council.

Judge Glenn is an Adjunct Professor at Columbia Law School and a Contributing Author of Collier on Bankruptcy.  He is a frequent lecturer on bankruptcy-related issues.


Michael Goldstein is co-chair of Goodwin's Global Financial Restructuring Group and a veteran restructuring and insolvency lawyer with over 35 years of experience representing all stakeholders in the capital stack.

Michael is a Fellow of the American College of Bankruptcy and a Member of the International Insolvency Institute. He has been repeatedly listed in U.S. News-Best Lawyers (Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law; Litigation – Bankruptcy) and selected as a “Super Lawyer” in Southern California and New York. He is consistently recommended for Restructuring (including Bankruptcy) Corporate by The Legal 500 United States. He is rated AV® Preeminent™ 5.0 out of 5.0 in Martindale Hubbell. Michael was recently honored by Chambers USA as a “Recognised Practitioner” in the area of Bankruptcy/Restructuring. In 2019, Michael was honored by the Turnaround Management Association for his work as lead counsel for client Gibson Brands, Inc. in its Chapter 11 restructuring, which was named Mid-Size Company Transaction of the Year.

Michael routinely represents debtors, private equity sponsors, alternative lenders, distressed asset buyers, creditors and litigants in restructurings both in court and out of court. In addition, Michael is a frequent speaker and author on restructuring and insolvency-related topics, including as Editor of Collier on Bankruptcy, Chapter 9.

Michael began his career in 1984 with Stutman Treister & Glatt in Los Angeles and was made a partner in 1990 (1984-2008; 2012-2014), was a partner at Greenberg Traurig (2008-2012), and has been at Goodwin since 2014. Michael graduated cum laude from Harvard Law School in 1984 and received his BS magna cum laude from Franklin & Marshall College in 1981.


Paul J. Pascuzzi is the Managing Partner of the Sacramento law firm Felderstein Fitzgerald Willoughby Pascuzzi & Rios LLP, specializing in complex bankruptcy and insolvency matters. 

Paul received his J.D. with Great Distinction from University of the Pacific, McGeorge School of Law in 1990.  Paul is a member of the McGeorge Order of the Coif and Traynor Honor Society.

Paul is a Fellow of the prestigious American College of Bankruptcy and is AV rated by Martindale-Hubbell.  Paul has been listed since 2007 in The Best Lawyers in America in the specialization of Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law.  Paul also has been listed since 2014 in The Best Lawyers in America in the practice area Litigation - Bankruptcy.  Paul has been named a Super Lawyer in the field of Bankruptcy by Law and Politics Magazine since 2005 and has been ranked among the Top 100 lawyers since 2016 by Northern California Super Lawyers encompassing lawyers in all specialties.

Paul has been recognized by Chambers USA as a leading bankruptcy and restructuring attorney. He is a frequent speaker and writer on bankruptcy and insolvency topics.  Paul regularly volunteers his time to the Voluntary Legal Services Program, Debt Collection Defense Clinic in Sacramento, California. 


Sandeep “Sandy” Qusba is the Head of the Bankruptcy and Restructuring Practice of the Firm’s Corporate Department. His practice focuses primarily on restructurings, bankruptcies, acquisition of distressed companies and bank financings. He has represented agent banks, steering committees, official and ad hoc committees, creditors, private equity sponsors, special committees of boards and portfolio companies in some of the largest Chapter 11 proceedings and out-of-court restructurings in recent years across a wide range of sectors, among them media, real estate, healthcare, energy, automotive, manufacturing and telecommunications.

Sandy received his B.A. from Tufts University in 1991 and his J.D., cum laude, from Syracuse University in 1994. He served as a law clerk for Chief Judge Stephen D. Gerling in the U.S. Bankruptcy Court of the Northern District of New York. Sandy regularly speaks on topics related to the bankruptcy industry. Some of his past speaking engagements have included presentations at the South Asian Bar Association’s 2018 Annual Conference, the American Bankruptcy Institute’s 20th Annual New York City Bankruptcy Conference, a roundtable event hosted by the American College of Bankruptcy and New York University School of Law and the JPMorgan Global High Yield & Leveraged Finance Conference. Sandy has also been inducted as a Fellow of the American College of Bankruptcy. In addition, he has also been named by Chambers USA as one of the leading lawyers for bankruptcy/restructuring.


Trevor Hoffmann is a director in the firm’s New York office. Trevor’s practice focuses on distressed M&A transactions on behalf of private equity firms, as well as traditional representation of creditors, special servicers, acquirers, and estate fiduciaries in all phases of restructuring.

Trevor’s practice includes regular appearances in bankruptcy courts throughout the United States. He advises clients in both the transactional and litigation arenas, including on everything from financial restructuring and workouts to safe harbors transactions, avoidance actions, distressed debt, section 363 auctions and sales, plans of reorganization, and mergers and acquisitions.

Trevor graduated from the University of Toronto’s Faculty of Law in 1999, and moved to New York City in 2001. Since that time, he has immersed himself in domestic and cross-border cases involving everything from real estate, software, financial institutions and cable companies to airlines, leisure and energy companies.

Trevor has been recognized as a New York Super Lawyer from 2013-2017, and as a New York Super Lawyers Rising Star from 2011-2012.  He is a frequent speaker on restructuring and distressed M&A topics, and has written extensively on these topics as well. He is also a member of the Thomson Reuters Practical Law Bankruptcy Service, Advisory Board and the Federal Bar Council Bankruptcy Litigation Committee.


David has over 25 years’ experience as a business bankruptcy, restructuring, and commercial litigation lawyer. Before forming ShemanoLaw in March 2018, David practiced at the prominent national law firms of Winston & Strawn, Orrick Herrington & Sutcliffe, and Robins Kaplan, and the highly regarded Los Angeles insolvency boutique of Peitzman Weg.

During his career, David has represented chapter 11 debtors, creditors’ committees, trustees, secured creditors and general unsecured creditors in all aspects of business bankruptcy and commercial litigation. He has in-depth experience handling bankruptcy and restructuring matters related to real estate, entertainment and manufacturing.

Among his recent matters are guiding David Barton Gym through its reorganization and emergence from chapter 11 protection, leading the section 363 sale of rights to The Terminator movie franchise in connection with Halcyon Holding Group’s chapter 11 matter, and representing one of the largest owners of El Pollo Loco franchises in Southern California in its chapter 11 restructuring.

David is very proud that his accomplishments have been recognized and honored by his peers. He was inducted as a Fellow of the prestigious, invitation only American College of Bankruptcy, and served as the president of the Financial Lawyers Conference. Mr. Shemano frequently lectures at events presented by the Practicing Law Institute, American Bankruptcy Institute, Beverly Hills Bar Association and other organizations.

Recognition

  • Named a "Southern California Super Lawyer,” Super Lawyers (2006-2007, 2009-2019)
  • Listed in The Best Lawyers in America (2013-present)
  • Recognized as “Bankruptcy/Restructuring Leader” by Chambers USA: America’s Leading Lawyers for Business (2012-present)

Professional Associations

  • American College of Bankruptcy, Fellow (2014)
  • Beverly Hills Bar Association, Member, Board of Governors (2009-2010); Chair, Bankruptcy Section Executive Committee (2007-2008)
  • Financial Lawyers Conference, President (2012-2013); Member, Board of Governors (2003-2005, 2008-present)

 


Gabriel Sasson concentrates his practice on bankruptcy proceedings and out-of-court restructuring transactions. Gabe has extensive experience representing ad hoc groups of bondholders, secured lenders and other creditors, DIP lenders, official committees of unsecured creditors, indenture trustees, equity holders and debtors in connection with in-court and out-of-court restructurings.

In addition, Gabe has experience in the representation of large insurance companies, as creditors, in chapter 11 and chapter 7 bankruptcy proceedings.

Honors & Awards
•   Super Lawyers, “Rising Star”

Memberships
•   Member, Bankruptcy Litigation Committee, Federal Bar Council, 2015-present
•   Member, American Bankruptcy Institute, 2010-present

Admitted To Practice
New York; New Jersey

U.S. District Court, Southern District of New York; U.S. District Court, Eastern District of New York

Education
J.D., Fordham University School of Law, 2009
B.A., University of Pennsylvania, 2006

Clerkships
Law Clerk, Honorable Martin Glenn, United States Bankruptcy Court, Southern District of New York, 2011-2012


Mr. Alan Halperin has been practicing bankruptcy and insolvency law since 1990. Prior to founding Halperin Battaglia Benzija, LLP, Mr. Halperin spent six and one-half years as an associate attorney in the bankruptcy and restructuring department of Stroock & Stroock & Lavan, a law firm with a national reputation in the insolvency field.

In his professional experience, Mr. Halperin has represented unsecured creditors’ committees, chapter 11 debtors and creditors of all types in numerous jurisdictions around the nation. He has also represented, and served as, numerous post-confirmation trustees. Mr. Halperin’s broad based experience enables him to provide his clients with the sound counsel they require to safely navigate the bankruptcy process. His expertise includes not only the mechanics of bankruptcy practice, but also strategic planning and formulation of exit strategies. Mr. Halperin regularly counsels financially troubled companies with respect to strategic planning, risks, alternatives and other issues. Mr. Halperin also advises committees of creditors as to how to plan for and navigate the workout and bankruptcy processes, and helps them to actively and aggressively protect their rights. He counsels individual clients with advice on how to structure their transactions with financially troubled companies, and assists in the negotiation and documentation of agreements with both bankrupt and troubled companies. In addition, he has prosecuted and defended thousands of preference actions, coordinated the mass prosecution of preference actions on behalf of post confirmation trusts, served as a mediator for preference disputes, and lectured on the topic.

Mr. Halperin is a graduate of Brandeis University (1987) and Fordham University School of School of Law (1990), and was a Dean's List student and a member of the Urban Law Journal at Fordham. He was a student intern with former Chief Bankruptcy Judge Tina L. Brozman (S.D.N.Y.) and former Bankruptcy Judge Marvin A. Holland (E.D.N.Y.). Mr. Halperin is a member of the bars of both New York and New Jersey, and is admitted to practice before various federal and bankruptcy bars situated in those states. He is a member of the American Bankruptcy Institute, and has lectured on a variety of bankruptcy and related state law topics. Mr. Halperin was included in Law360's list of 10 most Admired Bankruptcy Attorneys released in September 2010. He was named as one of the country's Outstanding Young Restructuring Lawyers in 2007 by Turnarounds & Workouts, and was included in Chambers USA list of recommended US bankruptcy lawyers for 2009 through 2020.  Mr. Halperin was named to the 2014 and 2018 New York Metro Super Lawyer top 100 lawyers, and has been named in Super Lawyers 2006 through 2020.  He has been named in Best Lawyers - Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law the 2015 through 2020.


David G. Epstein is the holder of the George E. Allen Chair at the University of Richmond where he teaches bankruptcy and other courses.  Before moving to Richmond to be near children and grandchildren, David had several other jobs, including Dean of the University of Arkansas Law School, Dean of the Emory University Law School, partner at King & Spalding and of counsel at Haynes and Boone.