Patrick "Rick" M. Shelby
Counsel
Business clients who want a lawyer that can speak their language turn to Rick Shelby. With a background that includes 15 years as an engineer, technical sales representative and marketer, Rick has the corporate experience to tackle the concerns businesses face, be it financial distress, litigation or bankruptcy.
Rick is a lawyer who knows the ins and outs of business and for over 10 years, he has used this knowledge to counsel corporate clients in all aspects of restructuring and bankruptcy. When he meets with clients, he can visualize the business’s day-to-day operations and ask the questions that others may not know to ask. That insight helps Rick understand the business, formulate practical legal solutions and get clients back to their business.
Experience
- Represented a Chapter 11 trustee in negotiating and crafting a unique agreement with the debtor, Bureau of Ocean Energy Management (BOEM) and the Bureau of Safety and Environmental Enforcement (BSEE). The agreement found common ground on funding shortfalls and the debtor’s inability to meet federal regulations.
- Counseled a privately held oil and gas company in an asset purchase agreement dispute against a reorganized Fortune 500 company in federal bankruptcy court, working with a trial team and eventually settling on the courthouse steps.
- Acted as counsel for a major international exploration and production company in an offshore royalty litigation against another major exploration and production company in a dispute over royalty payments and the Deepwater Royalty Relief Act. The trial team successfully defended a bad faith claim for treble damages.
- Represented a privately held oil and gas company in Louisiana state court regarding insurance coverage over a lost well. Through bankruptcy, the company was able to settle the insurance claim, reorganize and pay creditors.
- Represented two oil and gas debtors in bankruptcy, restructuring over $500 million in secured debt by continuing a plan that resulted in a debt for equity swap. Both restructured companies continue to operate in the ordinary course.