Jarom Yates is an associate in the Bankruptcy and Business Restructuring Practice Group in the Dallas office of Haynes and Boone, LLP. His practice focuses on all areas of bankruptcy, including both debtor and creditor representation.
Jarom's experience includes:
- Represents debtors, creditors, and trustees in all types of bankruptcy proceedings.
- Represents clients in all types of bankruptcy related litigation.
- Assists clients acquiring assets through the bankruptcy process.
Selected Client Representations
- Represents Hardage Hotels, I, LLC in its Chapter 11 bankruptcy case involving seven hotels.
- Represents large property development client in bankruptcy litigation in Las Vegas, Nevada.
- Represented Midland Loan Services, a division of PNC Bank, National Association, as special servicer for an $825 million CMBS loan, in the Innkeepers USA Trust bankruptcy cases.
- Represented NexBank, SSB and ad hoc second lien lender group in connection with FX Luxury Las Vegas, LLC bankruptcy.
- Represented international fast food chain in the bankruptcy of one of its franchisees.
- Represented the senior secured lender in the Airpro Mobile Air case.
Selected Representative Experience
Franchisor / Landlord Litigation
Representation of a national franchisor in heavily contentious litigation with a bankrupt franchisee, who was also the tenant of the franchisor under multiple lease agreements. The firm fought to protect the franchisor's rights and to defeat the franchisee's attempts to use the bankruptcy proceedings to retain its franchise agreements and leases despite assertions of serious and repeated operational violations. Ultimately, the firm obtained a favorable settlement that succeeded in removing the franchisee from the franchise system.
Innkeepers USA Trust
Representation of Midland Loan Services, the special servicer for an $825 million mortgage debt, in the Chapter 11 case of InnkeepersUSA Trust. Innkeepers' attempt to enter into a plan support agreement regarding a debt-for-equity swap was defeated. Midland's efforts resulted in the properties being placed on the market and a substantial increase in creditor recoveries.
Bosque Power Company, LLC
Representation of Prepetition Agent and Working Group of Lenders in the 2010 Chapter 11 of Bosque Power Co LLC and its affiliates. The Texas-based electricity generation company borrowed approximately $410 million in January 2008 in part to fund a conversion of two of its combustion turbines. The Prepetition Agent and the Working Group of Lenders terminated the exclusivity period and confirmed a plan of reorganization in the fall of 2010.
FX Luxury Las Vegas, LLC - Bankruptcy
Representation of second lien agent and certain second lien (junior) lenders in the FX Luxury Las Vegas I, LLC bankruptcy case in the Las Vegas, Nevada bankruptcy court. Successfully obtained ownership for the firm's clients of a seventeen-acre property located on the Las Vegas strip across from City Center.