Tax Restructuring

Baker Botts’ Tax team has considerable experience in advising clients regarding the various tax issues that can arise with respect to debt restructurings, whether in or out of the bankruptcy court. We collaborate and work closely with our colleagues in other practice groups to provide comprehensive representation for our clients. As Baker Botts has always distinguished itself in the energy and natural resources industry, our bankruptcy and restructuring lawyers have substantial experience responding to dislocation and financial stress in commodity-driven industries and have led major restructurings in the current downturn.

Our work in this area includes representation of:

  • Debtors and creditors in Chapter 11 reorganizations, pre-packaged bankruptcy workouts and foreclosure proceedings
  • Bidders for assets of financially troubled companies in Section 363 sales through the bankruptcy court
  • Companies with substantial net operating losses (NOLs) or other tax assets in the modeling of Section 382 ownership changes and limitations, and strategies for the preservation of tax attributes
  • Clients seeking the resolution of IRS claims in bankruptcy proceedings
  • Issuers of complex financial instruments in understanding the tax consequences of buy backs, workouts and settlements


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