William H Patrick III

Practice Areas

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. Billy 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.

Career

Billy’s vast bankruptcy experience includes having served as co-counsel with Slate Dabney to Federal Guaranty Insurance Company, the insurer for $1.8 billion of County bonds, in the Chapter 9 bankruptcy case of Jefferson County, Ala. He was principal reorganization counsel in the bankruptcy cases of Communications Corporation of America, comprised of 27 television stations in several states, and OCA, Inc., the largest manager of orthodontic practices in the U.S. 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).

Billy also 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.

Additionally, Billy 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 represented the Chapter 11 Trustee in liquidating the assets and distributing the proceeds to investors in Pooled Pension Fund Management Corporation, a Ponzi scheme.

Professional Memberships

Billy is a Fellow in the American College of Bankruptcy.