FORT WORTH, TEXAS – December 5, 2016 – Announcing today that Fort Worth-based Bankruptcy & Corporate Restructuring member Michael D. Warner has the rare distinction of being called on to serve as Special Equine Counsel in a matter before the U.S. Bankruptcy Court in the Northern District of Texas.
Mr. Warner is Proposed Special Equine counsel to John Dee Spicer, Chapter 7 Trustee of the estate of James and Marilyn Helzer, which includes a horse breeding and racing business in both Texas and Oklahoma. The Debtors filed a voluntary petition for relief under Chapter 11 in June of 2013, and the case was converted to Chapter 7 on August 8, 2016. Their business, which is operated at two locations, includes in excess of 60 horses, frozen embryos, collected semen, horse tack and equipment, all of which are assets of their Chapter 7 estate.
On behalf of the Trustee, Mr. Warner filed an emergency motion on November 29 asking the Court to approve the sale of certain equine assets at auction, as well as the retention and compensation of an Auctioneer and Care, Custody and Control Agent. As the Trustee’s Special Equine Counsel, Mr. Warner has assisted the Trustee in assessing the methods of liquidation, the valuation, and the care, custody and control of the Debtors’ equine assets in North Texas and Oklahoma, and in maximizing the value of the assets for the estate. In addition, Mr. Warner assisted the Trustee in the negotiation of the terms of the agreements with the Auctioneer and the CCC Agent. On December 2, 2016, the Bankruptcy Court approved the Trustee’s Motion to sell various equine assets via Auction.
Mr. Warner has a nationwide corporate restructuring practice which focuses on representing clients in reorganization cases, mergers and acquisitions, and out of court workouts. Mr. Warner was selected by the Trustee to address equine issues that overlap with bankruptcy issues, due to his significant experience as a horse breeder and competitive horse exhibitor for in excess of 25 years. Mr. Warner lives on a working horse and cattle ranch.
The materials on this site have been prepared by Cole Schotz P.C. for general informational purposes only and are not intended to constitute legal advice. Viewers should not act upon this information without seeking professional counsel on the specific facts and circumstances in question from an attorney licensed in their jurisdiction. Use of this site does not create an attorney-client relationship between the user and Cole Schotz or any lawyer(s) within the firm. Any information sent to Cole Schotz or its lawyers through this site will not be treated as confidential and is not protected by the attorney-client privilege.
© Cole Schotz P.C.
This website is an advertisement for a law firm. Statements and previous outcomes do not imply similar results in your matters.
© Cole Schotz P.C.