William H. Patrick, III concentrates his practice in corporate bankruptcy, corporate workouts and financial restructuring, representing debtors, committees, trustees, equity investors and other parties in interest. He has played major roles in the restructuring of casinos, utility companies, restaurant and fast food chains, hotels, television broadcast companies, orthodontic management companies, and resolving claims arising from asbestos, breast implants, nuclear radiation, and other hazards through the bankruptcy process.
He served as co-counsel with Slate Dabney to Federal Guaranty Insurance Company, insurer for $1.8 billion of County bonds, in the Chapter 9 bankruptcy case of Jefferson County, Alabama. He was principal reorganization counsel in the bankruptcy cases of Communications Corporation of America (27 television stations in several states); OCA, Inc. (largest manager of orthodontic practices in the United States); Legends Gaming Company (owner and operator of two casinos and hotels in Bossier City, La. and Vicksburg, Ms.); Harrah’s Jazz Company (owner of the land-based casino in New Orleans) and its publicly-traded successor, Jazz Casino Company; and Clean Harbors Plaquemine, LLC (owner and former operator of hazardous waste injection well). He represented the official committee of unsecured creditors in the bankruptcy case of Seahawk Drilling Inc., a publicly traded oil and gas drilling company and represented Municipal Employees Retirement System of Louisiana and Firefighters Retirement System of Louisiana in the Chapter 11 cases of Commonwealth Investment Funds (Delaware). He represented Cajun Electric Power Cooperative in its $3 billion Chapter 11 filing and he previously represented Cajun in its defense of an effort to reject its “all requirements “contract in the chapter 11 case of one of its member/customers, as well as serving as litigation counsel in a class action suit against Cajun for recovery of $2 billion in alleged overpayments for wholesale electric power. He represented the chapter 11 trustee in the section 363 sale of 27 Popeyes in several states, a trustee in the sale under a plan of reorganization of seven nursing homes in Texas, Louisiana, Tennessee and Alabama, and represented Santa Fe Cattle Company in the section 363 sale of its chain of steakhouses.
Mr. Patrick represented the holders of $230 Million in secured bonds in the bankruptcy case of Entergy New Orleans, Inc., the owner of the public utility for New Orleans, La. He has also represented official creditors’ committees in the bankruptcy cases of Grand Palais Riverboat, Inc. (riverboat casino in New Orleans) and Hollywood Casino Shreveport (riverboat casino and hotel in Shreveport, La.), and several thousand Louisiana breast implant claimants in the Dow Corning bankruptcy case in Michigan. He was counsel for corporate governance issues and matters related to the Apollo/Parks Township settlement (nuclear exposure claims) in the mass tort asbestos case of The Babcock & Wilcox Company. He represented the Chapter 11 Trustee in liquidating the assets and distributing the proceeds to investors in Pooled Pension Fund Management Corporation, a Ponzi scheme. He has also represented debtors and creditors in reorganization cases involving nursing homes, hotels, apartment complexes, real estate developments, shopping centers, industrial contractors, and a variety of other gaming companies and retailers .