The 1980s were a busy time for Texas bankruptcy lawyers. Businesses, especially banks and oil and gas concerns, were failing at a dizzying pace. If you could spell bankruptcy, you could almost count on getting work.
In the early 1990s, though, the Texas bankruptcy bar lost some of its luster. In droves, big companies with Texas roots headed to Delaware courts to reorganize, and the hemorrhaging continues to this day. The Delaware problem, as it has come to be known, is a sticky one, involving claims that some Texas bankruptcy judges aren’t up to snuff when compared to their colleagues in the East.
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