Jackson Walker partner Marvin Sprouse
was interviewed and quoted extensively for an article published in the August 12-18, 2011, issue of Austin Business Journal
The article, titled "J.C. Evans Seeks Bankruptcy Protection," focused on J.C. Evans Construction Holdings Inc.'s recent decision to file for Chapter 11 bankruptcy; currently, they owe more than $38 million to 405 creditors.
Mr. Sprouse, who was interviewed because of his expertise in bankruptcy law and his familiarity with this particular court filing, explained how a Chapter 11 filing can help a company get back on track.
"In any case like this, the first thing is to get operations stabilized," he was quoted. "The process is designed to help people and businesses get a fresh start."
The article reported that the company will sell its 700-acre quarry to try to pay off their lead lender, as well as a significant portion of the bonding company's advances. The sale of the quarry is extremely important to the company's debt-free plan.
"The debtor has high hopes for a quick sale of the quarry and equipment, an aspect of the business they are willing to do away with," Mr. Sprouse said. "A lot of the success depends on that effort."
To read the article, CLICK HERE
Mr. Sprouse has extensive experience with preference defense and avoidance action defense, having successfully defended over 100 preference suits nationwide. He represents financial institutions, landlords, and other creditors in bankruptcy, workout/restructure, and litigation matters, including collections and garnishment. He also represents companies purchasing assets out of bankruptcy. Mr. Sprouse received his B.A., with honors
, from the University of North Texas and his J.D., with honors
, from Texas Tech University School of Law.