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William L. Wallander

William L. Wallander Partner, Restructuring & Reorganization

Head of Vinson & Elkins' Restructuring and Reorganization group, Bill Wallander has led a robust restructuring practice with more than 25 years of experience. A complex commercial problem solver who knows his way around a courtroom, Bill has experience in all phases of distress including out-of-court workout and restructurings, distressed asset acquisitions and divestitures, distressed finance transactions, bankruptcy cases and litigation.

Bill has experience in representing creditors, syndicated bank groups, bondholder groups, non-bank lenders, private equity funds, and debtors, among others. Bill’s experience in complex chapter 11 cases covers all phases of the case including case preparation, financing, M&A, sales, plans of reorganization, post-emergence structuring and trusts, and bankruptcy litigation with substantial experience with fraudulent transfers. Bill has served as a witness in bankruptcy court (A.G. Financial Service Center, Inc. USBC S.D. Indiana), and in a significant state court class action matter on bankruptcy issues and impact. Bill’s practice includes a substantial amount of consulting and advisory work related to finance, M&A, other transactional structuring, and risk management for strategic evaluation and planning.

Chambers has recognized Bill in its nationwide bankruptcy rankings every year since 2004.

Experience Highlights

  • Represent client as agent for $550,000,000 secured lending facility to upstream producer in the development of and production from oil and gas working interests, net profits interest, and related energy assets
  • Represent client as agent for reserve based $325,000,000 secured lending facility to upstream producer in workout and potential restructuring matters
  • Represent client as agent for $200,000,000 secured lending facility to upstream producer in the development of and production from oil and gas working interests, net profits interest, and related energy assets
  • Highbridge Principal Strategies as restructuring and acquisition party in conjunction with $150,000,000 senior secured lender to effectuate Shoreline Energy's chapter 11 prenegotiated plan and restructuring/sale of operating assets
  • Wells Fargo as agent for $145,000,000 syndicated secured reserve based facility in connection with the workout and chapter 11 bankruptcy case of Southcross Energy
  • Morgan Stanley Capital Group, Inc. as a reserve based $120,000,000 secured facility lender in the chapter 11 case of Trinity River Resources, LP
  • Goldman Sachs in the defense of $100,000,000 fraudulent transfer action brought by bankruptcy trustee for recovery in connection with deed in lieu transaction filed in the United States District Court for the Southern District of New York, client prevailed at summary judgment, on appeal before the Second Circuit
  • Represented client as secured lender in out of court restructuring of $100,000,000 secured facility to merchant power company
  • Bank of America as asset based secured lender of $100,000,000 in the Parker Drilling prenegotiated chapter 11 bankruptcy case, and as the post-petition $50,000,000 DIP lender and $100,000,000  Exit facility lender
  • Represent client as secured lender in $80,000,000 secured facility to upstream producer in workout and potential restructuring matters
  • Monroe Capital Management Advisors, as $55,000,000 secured lender and DIP lender of Little River Healthcare System in its chapter 11 bankruptcy case and subsequent chapter 7 bankruptcy case

Agriculture

  • A syndicated lender group in a $430 million secured lender credit facility to Paul Reinhart, Inc., a major U.S. commodity merchant, in its chapter 11 bankruptcy case filed in the United States Bankruptcy Court for the Northern District of Texas, plan confirmed
  • A secured lender in the Texoma Peanut Company Chapter 11 bankruptcy case filed in the United States Bankruptcy Court for the Eastern District of Oklahoma, Dallas Division; debtor in possession financing, sale and auction process
  • A syndicated lender group in a $430 million secured lender credit facility to Paul Reinhart, Inc., a major U.S. commodity merchant, in its chapter 11 bankruptcy case filed in the United States Bankruptcy Court for the Northern District of Texas, plan confirmed

Chemicals

  • An asset purchaser in the Chapter 11 bankruptcy case of Gentek, a chemical company, filed in the United States Bankruptcy Court for the District of Delaware
  • A bank group in the Chapter 11 bankruptcy case of Laroche Industries, Incorporated, a chemical company, filed in the United States Bankruptcy Court for the District of Delaware

Defense

  • A secured lender group in the chapter 11 bankruptcy case of Gulf Coast Holdings, Incorporated d/b/a Unidynamics, Incorporated, a defense company, filed in the United States Bankruptcy Court for the Northern District of Texas

Energy – Clean Energy & Renewables

  • A secured lender in the Chapter 7 bankruptcy case of Bionol Clearfield LLC, an ethanol refinery, filed in the United States Bankruptcy Court for the District of Delaware
  • A syndicated lender group in the chapter 11 bankruptcy cases of Aventine Renewable Energy Holdings, Inc. (“Aventine”), a producer and marketer of ethanol and ethanol co-products, filed in the United States Bankruptcy Court for the District of Delaware, plan confirmed

Energy – Upstream

  • Secured lender in a debtor-in-possession financing to Norse Energy Corp. USA et al., an energy exploration and production company
  • A secured lender in the Chapter 11 bankruptcy case of Teton Energy Corporation, an energy exploration and production company, filed in the United States Bankruptcy Court for the District of Delaware
  • A bank group in the Chapter 11 bankruptcy case of Triad Resources, Inc. (“Triad Resources”), an energy exploration and production company, filed in the United States Bankruptcy Court for the Southern District of Ohio
  • Ad Hoc Committee of Secured Noteholders in the chapter 11 bankruptcy case of Tri-Union Development Corporation, an energy exploration and production company, filed in Houston, Texas
  • JPMorgan Chase Bank in the chapter 11 case of Chaparral Energy, an oil and natural gas exploration and production company, filed in Delaware
  • Wells Fargo as administrative agent for a $120 million syndicated lender group in the chapter 11 bankruptcy case of Emerald Oil, Inc., et al. filed in Delaware Bankruptcy Court 
  • RAAM Global Energy and its subsidiaries, an offshore and onshore E&P company, in their chapter 11 restructuring of over $300 million in debt; credit bid sale approved and plan confirmed in the first 3 months of the chapter 11 case filed in Houston, Texas
  • Crusader Energy Group, Inc. and affiliates, an energy exploration and production company, as debtors in possession in their chapter 11 bankruptcy cases filed in the United States Bankruptcy Court for the Northern District of Texas; plan confirmed
  • TriDimension Energy LLC and its affiliates, an energy exploration and production company, as debtors in possession in their chapter 11 bankruptcy case filed in the United States Bankruptcy Court for the Northern District of Texas, Dallas Division; plan confirmed
  • Wells Fargo as secured reserve based lender of $30,000,000 in the Chapter 11 bankruptcy of Augustus Energy LLC, a natural gas producer in Colorado, included sale of substantially all assets under 363 of the bankruptcy code and structured dismissal with proceeds of the sale net of costs delivered to secured lender

Energy – Midstream

  • Magnum Hunter Resources, an E&P company with extensive properties in Marcellus and Utica; represent Eureka pipeline system, an entity that provides gathering, transportation and processing services to one of the debtors in Magnum Hunter's chapter 11 case filed in Delaware

Energy – Downstream

  • Secured lender in the chapter 11 bankruptcy case of Age Refinery, Inc., filed in the United States Bankruptcy Court for the Western District of Texas

Entertainment

  • A sponsor in the Chapter 11 bankruptcy case of Regal Cinemas, filed in the United States Bankruptcy Court for the Middle District of Tennessee 

Healthcare

  • Fort Worth Osteopathic Hospital as debtor in the restructure case filed in the United States Bankruptcy Court for the Northern District of Texas

Insurance

  • Official Committee of Unsecured Creditors in the Chapter 11 bankruptcy case of ICH Corporation and affiliates, a major insurance holding company, filed in the United States Bankruptcy Case for the Southern District of New York

Litigation – Avoidance Action

  • Defendant in a fraudulent transfer action brought by Hallwood Group Incorporated, an energy exploration and production company; litigation successfully settled on favorable terms
  • Apollo Global Management in the defense of $20,000,000 fraudulent transfer action seeking avoidance of payment of make whole amount

Manufacturing

  • A secured lender in the Chapter 11 bankruptcy case of Metals USA, Incorporated, a metal fabrication company, filed in the United States Bankruptcy Court for the Southern District of Texas
  • A bank group in the Chapter 11 bankruptcy case of Reliant Building Products, a home building products manufacturer, filed in the United States Bankruptcy Court for the Northern District of Texas
  • A DIP lender in the Chapter 11 debtor-in-possession financing and plan acquisition of Smart Papers, LLC, a paper manufacturer, filed in the United States Bankruptcy Court for the District of Delaware, plan confirmed
  • Jackson Products, Inc. and its affiliates, a safety products manufacturer, as debtors in possession in their pre-packaged chapter 11 bankruptcy cases filed in the United States Bankruptcy Court for the Eastern District of Missouri; cases filed and plan confirmed in 16 days

Marine & Offshore

  • Peregrine I, LLC, an energy services company, in Chapter 11 bankruptcy case filed in the United States Bankruptcy Court for the District of Delaware
  • A charter party in the Chapter 11 bankruptcy case of Overseas Shipholding Group, an oil tanker operating company, filed in the United States Bankruptcy Court for the District of Delaware

Media

  • A secured lender in the Chapter 11 bankruptcy case of Idearc, Incorporated, an advertising company, filed in the United States Bankruptcy Court for the Northern District of Texas

Power

  • Forward Contracts Parties in the Chapter 11 bankruptcy case of Mirant Corporation, a power plant, filed in the United States Bankruptcy Court for the Northern District of Texas

Real Estate

  • A secured lender in the chapter 11 bankruptcy case of Continental Common, Inc., a real estate company, filed in the United States Bankruptcy Court for the Northern District of Texas
  • An asset purchaser in the Chapter 11 distressed acquisition case of Lajitas Resort, Ltd., a real estate company, filed in the United States Bankruptcy Court for the Western District of Texas
  • An asset purchaser in the Chapter 11 case of MA BB Owen LP, successful acquisition of real estate development via 363 sale
  • SunCrest, L.L.C., a real estate company, as debtor in the Chapter 11 bankruptcy case filed in the United States Bankruptcy Court for the District of Utah
  • Secured lender in the chapter 7 bankruptcy case of Highland Capital Real Estate Fund, L.P., a mezzanine real estate fund, filed in the United States Bankruptcy Court for the Northern District of Texas, Dallas Division; structured case dismissal
  • Goldman Sachs in connection with $50,000,000 secured real estate and maritime loans to Offshore Exploration and affiliated entities and persons

Retail

  • A bank group in the Chapter 7 case of Brook Mays Music Group, a musical instrument retail, filed in the United States Bankruptcy Court for the Northern District of Texas
  • Represent client as secured asset based facility of $50,000,000 with retail company in workout and potential restructuring matters

Services

  • A bank group in the Chapter 11 bankruptcy case of Mosaic Group, Incorporated, a services company, filed in the United States Bankruptcy Court for the Northern District of Texas

Technology

  • NetworkTwo, Incorporated, a network company, as debtor in possession in the Chapter 11 case filed in the United States Bankruptcy Court for the Northern District of Texas
  • DIP Lender and Asset Purchaser in the Chapter 11 bankruptcy case for Peregrine Systems, Incorporated, a software company, filed in the United States Bankruptcy Court for the District of Delaware
  • Debt holders and sponsors in the prepackaged Chapter 11 bankruptcy case and related class action litigation of Via Systems, a circuit boards manufacturer, filed in the United States Bankruptcy Court for the Southern District of New York

Telecommunications

  • Access Licensor in the Chapter 11 bankruptcy case of Teligent, Incorporated, a telecommunications company, filed in the United State Bankruptcy Court for the Southern District of New York
  • VarTec Telecom, Incorporated, telecommunications, as debtor in possession in the Chapter 11 bankruptcy case filed in the United States Bankruptcy Court for the Northern District of Texas
  • Software Licensor in the Chapter 11 bankruptcy case of Worldcom, Inc., a telecommunications company, filed in the United States Bankruptcy Court for the Southern District of New York

Transportation

  • An asset purchaser in the Chapter 11 bankruptcy case of Delphi Corporation, an auto manufacturer, filed in the United States Bankruptcy Court for the Southern District of New York (named a 2009 Deal of the Year by Asian-Counsel)
  • Airline services agreement creditor in the Chapter 11 case of Mesaba Airlines, filed in the United States Bankruptcy Court for the District of Minnesota
  • Airline services agreement creditor in the Chapter 11 case of Northwest Airlines, filed in the United States Bankruptcy Court for the Southern District of New York


Contact Details

T +1.214.220.7905
F +1.214.999.7905
bwallander@velaw.com
Trammell Crow Center
2001 Ross Avenue
Suite 3900
Dallas, TX 75201
Local time: 6:52 PM
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T +1.212.237.0000
F +1.212.237.0100
bwallander@velaw.com
666 Fifth Avenue
26th Floor
New York, NY 10103
Local time: 7:52 PM
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Bill's Practices

  • The University of Texas School of Law, J.D., 1984
  • University of Phoenix, M.B.A. summa cum laude, 2001 (earned while practicing law full-time)
  • University of Pittsburgh, B.A., Political Science and Economics magna cum laude, 1981 (minors: Mathematics and Latin; Phi Beta Kappa)
  • Admitted to practice: Texas; New York; Texas Supreme Court; The Supreme Court of the United States; U.S. Court of Appeals for the Second, Fifth and Tenth Circuits; U.S. District Courts for the Northern, Eastern, Western, and Southern Districts of Texas; U.S. District Court of Arizona; US District Court for the Southern District of New York; U.S. District Court of Colorado
  • Certified Microsoft user specialist in Access relational database software (2000)
  • Legal 500 U.S., Corporate Restructuring, 2012–2014; Corporate Restructuring: Including Bankruptcy, 2015− 2019
  • Chambers Global, Bankruptcy/Restructuring Law, 2012, 2017 and 2018
  • D Magazine (D Magazine Partners), "The Best Lawyers in Dallas" in Bankruptcy & Workouts, 2012, 2014–2015
  • Who's Who Legal (Law Business Research Ltd.), Restructuring & Insolvency, 2016−2018
  • (Euromoney’s) Legal Media Group’s Guide to the World’s Leading Insolvency & Restructuring Lawyers, 2007–2011, 2013
  • The Best Lawyers in America© (Woodward/White, Inc.), Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law, 2005–2020; Litigation–Bankruptcy, 2005–2020
  • Chambers USA, Bankruptcy/Restructuring Law (Nationwide), 2004–2019
  • Selected to the Texas Super Lawyers list, Super Lawyers (Thomson Reuters), 2004–2019
  • State Bar of Texas (Bankruptcy Law Section), Robert B. Wilson Distinguished Service Award, 2019
  • Life Fellow: Keeton Fellow, The University of Texas School of Law; Dean’s Roundtable, The University of Texas School of Law; Chancellor’s Council, The University of Texas; Littlefield Society, The University of Texas
  • Sustaining Life Fellow: Dallas Bar Foundation
  • Chair: State Bar of Texas Bankruptcy Law Section, 2015
  • Chair-Elect: State Bar of Texas Bankruptcy Law Section, 2014
  • Co-Chair: State Bar of Texas Bankruptcy Section 2015 Bench/Bar Conference
  • Member: John C. Ford American Inn of Court; American Bar Association; Dallas Bar Association; Dallas Bankruptcy Bar Association; American Bankruptcy Institute; Turnaround Management Association; Texas Association of Bank Counsel
  • Planning Committee: State Bar of Texas Bankruptcy Section Bench/Bar Conference, 2005, 2007, 2009, 2011, 2013
  • Treasurer: State Bar of Texas, Bankruptcy Section, 2012
  • Co-Chair: Association of Insolvency and Reorganization Advisors 20th Annual National Meeting, Dallas, Texas, June 2004
  • Planning Committee/Sponsor: Turnaround Management Association Seminar, Dallas, Texas, 2004
  • Planning Committee/Sponsor: Turnaround Management Association Seminar “Critical Stages of the Insolvency and Bankruptcy Process,” Dallas, Texas, 2003
  • Planning Committee: The University of Texas Advanced Bankruptcy Course, Austin, Texas, 1997