Jeff Prostok concentrates his practice in the areas of business reorganizations, debtor and creditor rights, bankruptcy litigation, and refinancing and acquisitions of troubled companies. Mr. Prostok recently confirmed a traditional reorganization Plan for Falcon Steel, preserving equity and providing for the payment of creditors. Mr. Prostok currently represents Frac Specialities, a major fracking company in the Permian Basin. He is serving as Creditor Committee counsel in the Victory Medical bankruptcies and representing the primary lender in the ASEN Oil and Gas Bankruptcy. Other current representations include an Oil and Gas Service Company as well as other Oil and Gas related companies and interests. Mr. Prostok recently served as co-counsel for an Ad Hoc group of bondholders with claims exceeding $700 million in the Vitro S.A.B. de C.V. bankruptcy successfully preventing Vitro from enforcing its Mexican Concurso plan in the United States.
Mr. Prostok led the firm’s representation in other major chapter 11 debtor cases, including Texas Rangers Baseball Partners, Majestic Liquor Stores, and Heartland Automotive Holdings, Inc. He served as principal partner involved in the firm’s representation of Mirant Energy, one of the largest bankruptcies ever filed in Texas. Mr. Prostok also acted as debtor’s counsel for Berryman Products, Inc., Hispanic Television Network, Mrs. Baird’s Bakery, Lone Star Lubrication, Larry’s Standard Brand Shoes, and many others.
Mr. Prostok successfully represented The First Bank in its acquisition of The First National Bank of Baldwin in a contested §363 sale in the Mobile, Alabama Bankruptcy Court and previously represented Outsource Holdings, Inc. in its bankruptcy sale/merger of its 100% interest in Jefferson Bank, a Texas Bank with five branch locations in the DFW metroplex, which was the first transaction of its kind in Texas. Mr. Prostok has worked on other bank holding company bankruptcies throughout the country and has co-authored an article on the topic for the American Bankruptcy Institute Journal. Mr. Prostok recently successfully represented Associated Supply Company, Inc. (“ASCO”) in its §363 purchase of assets valued in excess of $50M in the Hi-Way Equipment Company Bankruptcy.
Mr. Prostok is a member of the Bankruptcy Sections of the Dallas and Tarrant County Bar Associations, having served the Tarrant County section as its past president, and the American Bankruptcy Institute. He has written and spoken about bankruptcy issues for a number of CLE programs sponsored by various organizations including the State Bar of Texas. Mr. Prostok is Board Certified in Business Bankruptcy Law by the Texas Board of Legal Specialization.