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David Weitman

Partner
+1.214.939.5427
Fax +1.214.939.5849

Mr. Weitman primarily represents lenders in the bankruptcy area, including banks, financial institutions, hedge funds, and acquirers of distressed debt.  Mr. Weitman counsels these parties relating to debtor-in-possession financing, loan review, lender liability prevention, perfection of liens, confirmation, lift of stay, and other bankruptcy proceedings.  He has substantial experience in multi-lender debtor-in-possession financings, post-confirmation financing, cash collateral financings, secured transactions, debt restructurings, corporate reorganizations and workouts, acquiring businesses and assets out of bankruptcy, negotiating, structuring and drafting corporate litigation settlements and documentation, pre-bankruptcy workouts and pre-bankruptcy planning and strategies, prosecuting involuntary bankruptcies, and representing banks as indenture trustees in bankruptcy.  In addition, he has been responsible for case management of bankruptcy, insolvency, and creditors' rights lawsuits prosecuted nationally and internationally.

Mr. Weitman also counsels corporate and banking clients in real estate acquisition and development, construction, intellectual property, international letters of credit, computer agreements, leveraged buyouts and equipment leasing.

In recent years, Mr. Weitman's practice has involved substantial work representing secured lenders in oilfield service and energy exploration and production company restructurings and bankruptcy proceedings.

Mr. Weitman is listed on D Magazine’s 2017 Best Lawyers in Dallas list for Bankruptcy and Workout, and on D Magazine’s 2016 Best Lawyers in Dallas list for Banking and Finance.

Areas of Emphasis

  • Loan workouts and restructurings
  • Debtor-in-possession financings and post-confirmation exit facilities
  • Aircraft finance and issues relating to Bankruptcy Code Sections 1110 and 365(d)(5)
  • Acquisitions out of bankruptcy
  • Structuring new loans/bankruptcy remote entities, etc.
  • Secured transactions
  • Chapter 11 Trustee and Plan Trustee representations
  • Post-judgment collections and enforcement of rights and remedies, including numerous receivership proceedings throughout the United States
  • Assisting clients with lender/borrower disputes, agent/participant disputes, and agent/co-lender disputes, and strategic analysis and dispute resolution in a wide variety of contexts and venues nationally

Professional/Civic Activities

  • Dallas Bar Association
  • American Bar Association
  • American Bankruptcy Institute

Speaking Engagements

  • Speaker, "Loan Workouts Presentation" to the American Bankers Association Graduate Commercial Lending School at Southern Methodist University, May 2016.
  • Speaker, Dallas Bar Association, Bankruptcy Bar Section, "Debtor-In-Possession Financing, Local Practice and National Trends," April 2010.
  • Representation of secured lenders in insolvency proceedings of exploration and production companies and oilfield service companies, including representing secured lenders in connection with contested cash collateral hearings, lift stay hearings, negotiation of restructuring and support agreements, auction sales of oilfield service equipment and inventory, out of court workouts, UCC sales of patent technology, and sale of oil and gas properties through Section 363 sale process.

  • Representation of owners of hospitals in connection with effecting the sale of medical equipment and other assets through the Section 363 sale process.

  • Representation of aircraft lessors in the national bankruptcy proceedings of United Airlines, US Airways, Delta Air Lines, ATA Holdings, and Northwest Air Lines, with the myriad of issues relating to Sections 1110 and 365(d)(5) of the Bankruptcy Code, including strategies to maximize value, Section 1110(b) extensions, aircraft lease amendments, and allowance and payment of administrative claims and unsecured claims.

  • Representation of financial institutions in national retail bankruptcies, including Clothestime Stores, Inc., Homeland Stores, Inc., Fine Furniture, Inc., Retail Concepts, Inc., Babbages, Inc. (NeoStar, Inc.), Old America, Inc., and CompuAdd, Inc.

  • Representation of commercial lessors in national retail bankruptcies and the bankruptcies of manufacturing and distribution companies.

  • Representation of Chapter 11 Trustee and later Plan Trustee in all facets, including, sales of assets, disclosure statement, plan confirmation, claims allowance, prosecution of causes of action (against officers and directors).

  • Representation of post-petition financing entities of debtors in national bankruptcy proceedings.

  • Representation of a secured creditor with a first lien on a 100-acre grain elevator and terminal facility located on the Houston ship channel, in the debtor’s Chapter 11 proceeding, which involved multiple competing plans of reorganization.

  • Representation of numerous financial institutions in bankruptcies and workouts of a crane construction company based in Houston and mechanical contractors and excavating companies in Dallas.  These cases have involved issues concerning the accounts receivable, inventory, materials, furniture, fixtures, equipment and contracts in progress.  Through our efforts, our clients were able to negotiate with the debtors and prospective purchasers to cause numerous sales of assets free and clear of all liens, claims and encumbrances (together with the assumptions and assignments of valuable contract rights), with the proceeds thereof paid at closing to this firm's clients.  These cases required numerous court appearances stemming from lien priority litigation and court-approved asset liquidations.

  • Representation of numerous purchasers of assets out of bankruptcy proceedings.

  • Representation of numerous other creditors in connection with enforcing their rights and remedies against discrete items of collateral in bankruptcy proceedings in numerous business contexts in litigation involving the automatic stay, adequate protection (use of cash collateral), appointments of Chapter 7 and Chapter 11 trustees, disclosure statement and confirmation hearings, extensive valuation and feasibility contests, and fraudulent conveyance and preference defense litigation.

  • Substantial experience appearing on behalf of financial institutions serving as indenture trustees for bondholders in the context of both prepackaged plans of reorganization and contested plans of reorganization.

  • Representation of lenders to nursing homes and health care facilities in connection with the restructuring of their loans.

  • Representation of a secured lender that finances medical equipment (and health care receivables) used in health care clinics in Texas.  Involved in all phases of state court and bankruptcy court actions on behalf of secured lenders in numerous proceedings, including receivership, cash collateral and asset sales.

  • Representation of a mortgage company and a purchaser of $250 million of first lien loans on congregate care facilities from the RTC.  In that regard we represented their interests in state court and bankruptcy proceedings to affect a foreclosure of their liens.

  • Representation of the purchaser of RTC loans, secured by first liens on retirement facilities, in Chapter 11 cases in Houston, Atlanta, and Dallas.

  • Representation of hedge funds in acquisition of distressed debt and thereafter collection on same in bankruptcy proceedings or out-of-court workouts throughout the United States.