McCathern Dallas Bankruptcy Attorney Quoted by Bloomberg News

Dallas, Texas (PRWEB) April 13, 2015

Jonathan L. Howell of McCathern, PLLC served as lead attorney for the Official Creditors' Committee on the Falcon Steel Co. bankruptcy case, no. 14-42585, U.S. Bankruptcy Court, Northern District of Texas, Fort Worth Division. Falcon Steel filed a Chapter 11 petition in June 2014. According to court documents, the company has permission to emerge from Chapter 11 reorganization under a reorganization plan providing full recovery for all creditors, with interest.

As reported April 6, 2015 by Bill Rochelle for Bloomberg News, Jonathan L. Howell, whose clients held over $6 million in unsecured debts, said the plan was "consensual and incorporated two key settlements." According to court documents, all creditor and shareholders classes voted in favor of the plan. One of the settlements, involving the Official Creditors' Committee, precluded the company from paying existing or new equity until unsecured creditors are paid in full, even in the event of a post-confirmation sale or dividend payment.

"It's a true reorganization. The debtors are going to continue as a healthier, more profitable company while paying back general unsecured creditors over 5 years, plus 5% interest. It's a excellent result for all parties involved," stated Jonathan L. Howell, head of McCathern's bankruptcy law section.

About Falcon Steel Company
Based in Haltom City, Texas, Falcon Steel has been a leader in designing and fabricating quality steel structures for more than 50 years. With more than 260 employees statewide, the company also has fabricating facilities in Kaufman and Euless, Texas.

About McCathern, PLLC
McCathern, PLLC provides high-quality legal services to clients across the nation with a broad range of practice group specializations. Each of the firm's leaders brings large-firm experience and business acumen to a smaller-firm environment of agility and efficiency. Our philosophy of improving people's lives is implemented daily by treating clients as business partners, working together to find the solution to a dispute, or to close transactions in a diligent, cost-effective manner. McCathern's track record has attracted an impressive clientele list, ranging from Fortune 500 corporations and high-profile organizations, to small companies and high-net-worth individuals. The firm's main location is in Dallas, Texas, with additional locations in Houston, Texas and Los Angeles, California. Visit http://www.mccathernlaw.com for more information.

Read the full story at http://www.prweb.com/releases/2015/04/prweb12646171.htm

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