Jeff P. Prostok

Jeff P. Prostok


Forshey Prostok LLP

Recognized since 2014

Fort Worth, Texas

Practice Areas

Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law

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Jeff Prostok is a founding partner of Forshey Prostok and concentrates his practice in the areas of business reorganizations, debtor and creditor rights, bankruptcy litigation, and refinancing/acquisitions of troubled companies and is Board Certified in Business Bankruptcy Law by the TX Board of Legal Specialization. His experience includes:• Hydroscience Technologies, Inc. and Solid Seismic, L.L.C. (Debtors’ Counsel-Ch11) – Represents Debtors that design and manufacture deep water seismic instrumentation for offshore oil and gas seismic surveys. Resolved many multimillion-dollar claims against the companies by confirming a Plan selling substantially all assets and confirming a Plan of Reorg resulting in a large recovery for unsecured creditors. • Vitro SAB (Co-Counsel for an Ad Hoc Group of Bondholders)–Represented Bondholders with claims exceeding $700 million in the Vitro S.A.B. bankruptcy case pending in the Northern District of TX. Successfully assisted the bondholders in preventing Vitro from enforcing its Mexican concurso plan in the U.S., allowing subsidiary guaranties to be preserved and enforceable domestically and upholding the bankruptcy decision on appeal in the 5th Circuit Court of Appeals. • Shannon Gracey (Workout Counsel)–Represented a Fort Worth, Texas based law firm with an 80-yr history and offices in Fort Worth, Dallas, Houston, Austin and Arlington, TX, spearheaded efforts to avoid a bankruptcy filing and negotiated resolutions with all of Shannon Gracey’s creditors. • Texas Rangers Baseball Club (Co-Counsel-Ch11)–Represented the Debtor by participating in facilitating an auction for the Major League baseball team and confirming a plan of reorganization for the Rangers making it one of the most unique and high-profile bankruptcies ever filed in Texas. • HBT JV, LLC (Honda of Burleson) (Debtor’s Counsel-Ch11)–Represented a Honda Dealership with annual gross income of about $100 million. The bankruptcy case was filed to overcome a litigation stalemate between the company’s equity holders and successfully obtained approval to sell substantially all the Debtor’s assets allowing for the payment in full of all creditor claims and substantial distributions to the Debtor’s equity holders. • Stringer Farms, Inc./Blake Stringer (Debtor’s Counsel-Ch11) –Represented Debtors with extensive farming operations on over 6,000 acres of farmland in Moore County, Texas with value exceeding $20M. Assisted debtors in obtaining debtor-in-possession financing and negotiated consensual plan of reorganization saving the farm. • Forest Park Medical Center at Fort Worth, LLC (Debtor’s Counsel-Ch11)–Represented a hospital with revenue of more than $150 million in 2015. Confirmed its Chapter 11 plan by assisting in the sale of the real estate for over $120 million while carving out a significant recovery for creditors and settling all claims against the investors of the hospital. • Wellflex Energy Solutions, LLC (Debtor’s Counsel-Ch11)–Represented a manufacturer of modular wellhead products and companies engaged in the oil and gas industry by assisting Wellflex in the sale of substantially all its assets to insiders. • The Bombay Company, et al. (Local Counsel for Official Unsecured CRs’ Comm) – Represented the Official Unsecured Creditors’ Committee of The Bombay Company, Inc., et al., one of the largest retail bankruptcy cases ever filed in Texas. The Committee and Debtors confirmed a joint plan of liquidation that resulted in payment of a significant dividend to unsecured creditors. • Falcon Steel Company (Debtor’s Counsel-Ch11) – Successfully represented a steel fabrication company by formulating a consensual plan of reorganization with its secured lender and creditors successfully emerging from bankruptcy. • Troxell Company, Inc. (Debtor’s Counsel-Ch11)– Respected manufacturer of tankers and trailers for use in hydraulic fracking operations. The court approved the sale of substantially all the assets to the MAC Trailer Manufacturing corporate family less than two weeks after the case was filed. • Victory Medical Center Mid-Cities, LP et al. (Official Unsecured CRs’ Committee-Ch11)–Assisted in the sale of two of the Debtor’s hospitals, the wind down and closure of two of the Debtor’s-hospitals, and negotiated a consensual plan of reorganization. • Bloomfield Nursing Operations, LLC et al., (Debtors’ Counsel–Ch11)–Representing eight New Mexico nursing homes seeking alternatives to litigation being pursued against the entities while attempting to maximize recovery and limit costs for all parties. • First Baldwin Bancshares, Inc. (Purchaser of Assets)–Successfully represented its acquisition of The First National Bank of Baldwin in a contested §363 sale in the Mobile, Alabama Bankruptcy Court. • Heartland Automotive Holdings, Inc.(Debtor’s Co-Counsel-Ch11)–Represented largest Jiffy Lube Franchisor in the U.S. with approximately $396 million in debt by confirming a Ch11 plan with 100% recovery to creditors. • Cisneros Restaurants (Debtor’s Counsel-Chapter 11)–Represented restaurant chain confirming a consensual plan of reorganization retaining equity for its owners. • Mrs. Baird’s Bakeries (Debtor’s Counsel-Ch11)–Represented the largest privately-owned bakery in the U.S. at the time, in its strategic Ch11 case. Settled a multimillion-dollar antitrust class action suit through bankruptcy and confirmed a plan of reorganization in record time paying claims in full. • Mirant Energy (Debtor’s Conflict Counsel-Ch11) – Represented one of the largest bankruptcies ever filed in TX resulting in full recovery for creditors. • Berryman Products, Inc.(Debtor’s Counsel-Ch11) – Successfully confirmed plan of reorganization for 107-yr-old automotive chemical enhancement distributor after reversing a multimillion-dollar jury verdict in California and successfully defeating numerous objections and appeals by a recalcitrant creditor and paying all claims in full and retaining equity for shareholders. • Lone Star Lubrication Co. (Debtor’s Counsel-Ch11)–Represented the company by confirming a Ch11 reorganization plan of 40 rapid oil change facilities and allowing equity to continue operations. • Pentwater Capital Mgmt, LLC(Secured CR Rep) –Represented a hedge fund with $3.6 billion dollars under mgmt that was the primary secured lender in the American Standard Energy bankruptcy cases, filed in the Western Dist of TX. Assisted with a plan of reorganization which allowed Pentwater to acquire 100% of equity in the Debtors. • Frac Specialties (Debtor’s Counsel-Ch11)-A major fracking company in the Permian with over 200 million in revenue. • Hi-Way Equipment Company (Purchaser of Assets)–Represented Associated Supply Company, Inc. in its §363 purchase of assets valued in excess of $50M in the Debtors’ bankruptcies. • Majestic Liquor Stores, Inc. (Debtor’s Counsel-Ch11)–Represented operator of 46 retail stores and three wholesale locations with gross sales of more than $150 million by confirming a plan of reorganization allowing for the sale of substantially all its assets and significant recovery to creditors. • Mirant Lo

Location

  • 777 Main Street, Suite 1550
    Fort Worth, TX 76102

Education

  • Southern Methodist University , J.D., graduated 1984

Bar Admissions

  • Texas, State Bar of Texas

Court Admissions

  • All Texas Federal Courts

Recognized in The Best Lawyers in America® 2023 for work in:

  • Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law

Awards:

  • Power Attorney Award - Fort Worth Business Press

Board Certified in Business Bankruptcy Law

By the Texas Board of Legal Specialization.

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