Jim Prince

Section Chair - Financial Restructuring (Firmwide) Partner

James Prince Photo


P: +1.214.953.6612 F: +1.214.661.4612
  • New Gulf - debtor's counsel for an E&P company in its pre-negotiated chapter 11 bankruptcy case in Delaware. Plan confirmation scheduled for Spring 2016.
  • Hercules Offshore, Inc. - debtor's counsel for an offshore contract drilling and liftboat services company in the oil and gas industry in its prepackaged chapter 11 bankruptcy case. Plan confirmed Fall 2015.
  • Global Geophysical - Representation of chapter 11 debtor, a public oil and gas services company with global operations. Plan confirmed Spring 2015.
  • ASARCO LLC - Representation of chapter 11 debtor, a mining, smelting and refining company, with asbestos bond and environmental claims. Plan confirmed; creditors paid in full. Performance based fee enhancement awarded to Baker Botts.
  • Representing private midstream company in the Bakken in connection with ongoing financial restructuring.
  • Representing publicly traded E&P company in connection with distressed debt exchange and capital market transaction.
  • Seahawk Drilling - Representation of largest creditor in chapter 11 cases of spun-off former subsidiaries and defense of spin transaction from fraudulent transfer challenge.
  • SemGroup/SemCrude - Representation of public MLP energy transport company in connection with out-of-court workout and the bankruptcy case of its then ultimate parent and sister-companies.
  • Crusader Energy - Representation of buyer of Crusader Energy, an oil and gas company, pursuant to confirmed chapter 11 plan.
  • Enre - Representation of prevailing strategic buyer for Enre's oil and gas assets; confirmed chapter 11 creditor plan (in litigious competing plan process) in less than four months.
  • Kodak - Representation of stalking horse purchaser, a large international company based in Japan with operations in 40 countries, in proposed sale of Kodak's document imaging business, a carve-out transaction involving 1,100 employees and assets and operations in the U.S., UK, and 26 other countries.
  • Pacific Lumber - Representation of chapter 11 debtor, a timber harvesting and milling company in a complex chapter 1. Plan confirmed.
  • Heartland - Representation of senior lender bank group in chapter 11 of one of the largest quick lube franchisees.
  • Confirmed chapter 11 creditor plan in EnRe oil and gas bankruptcy (in litigious competing plan process) in less than four months.
  • Representation of creditors in megacases: EFH, Kmart, Enron, Adelphia, Mirant and WorldCom.
  • Crescent Machinery - Representation of chapter 11 debtor; confirmed chapter 11 plan for Crescent Machinery Company, a construction equipment sales, leasing and service company with approximately 14 branch locations in six different states.
  • Harbor Financial - Representation of an eleven-member bank syndication under a defaulted $500 million mortgage loan warehouse facility in the Harbor Financial bankruptcy, with recoveries and repayment of over 95 percent of the debt.
  • Representation of industrial conglomerate (with operations in 61 countries) in complex litigation involving environmentally impacted property that involved three years of litigation, discovery in four different states, and two favorable partial summary judgment rulings in our client's favor, including a ruling that our client's claims were not discharged in chapter 11 bankruptcy, with client's objectives being granted through settlement.
  • Representation of a creditor in Nevada bankruptcy proceeding involving a residential subdivision near Reno in which, following a trial on the merits of the client's rights and damages under an option to purchase a key portion of the subdivision, and a ruling in favor of our client from the Court of Appeals for the Ninth Circuit (sitting en banc) on the enforceability of the option in a federal bankruptcy proceeding, the client received cash on remand.

Other Select Oil & Gas Representations This Down Cycle

  • Advising non-operators, operators, gatherers and farmees in connection with recent bankruptcy filings of In re Samson Resources (Delaware) and In re Sabine Oil and Gas (New York).
  • Representing a publicly traded E&P company in connection with mitigating counter-party bankruptcy risks in respect of development, gathering, transportation and marketing contracts in shale plays across the country.
  • Representing a large New York-based private equity fund in deployment of capital to distressed E&P companies in non-traditional financing structures, production payments and farmout agreements.
  • Advising a major midstream company on mitigating operator bankruptcy risks under gathering and transportation agreements in various states.
  • Representing an international oil & gas company in connection with UK and U.S. insolvency proceedings in respect of Afren.
  • Representing a utility in securing natural gas supply under production payment structures and mitigating operator counter-party bankruptcy risk.
  • Representing a large New York-based private equity fund in connection with credit facility to non-operating working interest owner under numerous joint operating agreements for leases throughout Texas and Oklahoma.
  • Advising an international offshore drilling company in connection with mitigating counter-party bankruptcy risk and assessment of strategic acquisition opportunity in volatile commodity price environment.
  • Representing an independent E&P company in connection with distressed acquisition of oil and gas assets.
  • Representing a large New York-based private equity fund in connection with chapter 11 case of portfolio company, an offshore E&P company with leases and P&A liabilities in the U.S. Gulf of Mexico.
  • Representing an independent E&P company in connection with capital deployment and farmout agreements; mitigating counter-party bankruptcy risk.
  • Representing lenders in connection with amendments of credit agreements to international offshore drilling company.