Managing Director: Joseph M Coleman
Number of directors: 44
Number of other lawyers: 27
Languages: English, Spanish, Chinese (Cantonese and Mandarin)
The unique strengths and talents of more than 70 lawyers with a broad diversity of experience and knowledge make KRCL a go-to law firm for corporate clients across the US. The firm serves clients in every major industry sector, bringing exceptional insight into the legal needs of clients in Construction; Energy and Oil & Gas, Financial Services, Manufacturing, Transportation & Railroad; Retail, Restaurant & Hospitality, as well as a unique China Practice, serving Chinese and US companies in cross-border transactions.
Main Areas of Practice:
Commercial Real Estate
Business and Corporate Transactions
Large Loss Subrogration
Insolvency, Bankruptcy & Creditor Rights:
KRCL represents clients in all aspects of distressed asset and insolvency proceedings and is especially well known as dynamic counsel to creditors’ committees across the United States. KRCL’s lawyers have represented more than 40 creditors’ committees in 16 different states with outstanding results. In 2018, KRCL was recognized by The M&A Advisor for its role as Creditors’ Committee Counsel in the Chapter 11 Reorganization of the Year ($25MM to $100MM) of Valuepart, Inc.
KRCL has had immense success representing bankruptcy estates in cases such as First Magnus Financial Corp., the largest privately held mortgage company in the United States, resulting in more than $800 million in distributions to creditors. Recently, Joseph M. Coleman was asked to serve as Chief Marketing Officer for the 37,000-acre KC7 ranch in West Texas, previously marketed without success and subject to competing family claims. Through hard work and a creative sale process, KRCL and its broker successfully sold the ranch for more than $32 million.
The Real Estate section at KRCL has one of the largest, most well-known and widely respected commercial real estate practices in Texas. The firm represents owners, developers, investors and lenders in sophisticated and innovative real estate transactions. The Real Estate attorneys at the firm have handled some of the most significant deals in the market, and are recognized regularly by the Dallas Business Journal for their role in the most notable deals annually.
Recent examples of notable matters include representation of the developer in a Class A $500 million mixed-use development with nearly 10 million sf of leasable space involving an iconic mall redevelopment site, and development of a commercial condominium project for Trammell Crow which included 250,000 sf of Class AA office space and 350 residential units. KRCL also represents notable clients such as Citibank, Home Depot, Starbucks and At Home stores in all aspects of commercial development and leasing.
KRCL has a number of Texas-based trial lawyers with a national practice, known for precise and meticulous handling of complex, high-exposure business disputes on either side of the docket. The commercial litigation team regularly represents clients facing contentious, high-dollar conflicts. The litigators at the firm provide strong advocacy in almost every type of litigation, representing businesses of all types, individuals, self-insured businesses and insurance carriers.
One significant win from the past year is the successful defense of a multi-million-dollar breach of fiduciary duty claim in multidistrict litigation in Federal Courts in Minnesota, Missouri and Texas. Firm attorneys were also recently able to impose a constructive trust on over four hundred oil and gas wells located throughout the United States and in the Gulf of Mexico. A financial institution defended by KRCL prevailed in a race discrimination case under the Equal Credit Opportunity Act.
Business & Corporate Transactions:
KRCL has a wide-ranging business transactions practice involving all forms of corporate activities, including corporate acquisitions, divestitures, mergers, reorganizations, financing, asset acquisitions and dispositions, capital markets, syndications, and general counsel services. The team includes an M&A attorney with Board Certification in Tax Law, creating added value for clients involved in corporate reorganizations and mergers and acquisitions. KRCL represented the owners of six US and Mexican companies in the $70 million sale of those businesses to a private equity sponsored company engaged in a roll-up of companies engaged in customs and transportation matters across the US/Mexico border. One of the largest US real property investments was handled by KRCL in a $630 million acquisition by a European client of three office buildings in Chicago and New York City, with a combined size of approximately 3,000,000 sf.
KRCL’s practical experience in the energy sector is simultaneously broad and deep, encompassing title issues, seismic-related disputes, drilling operations and surface damages, royalty underpayments, offset drilling and development, bad-faith pooling, cessation of production, and lease termination. KRCL represents operators and owners in high-stakes lease disputes, royalty controversies, mineral trespass and surface-use disputes, as well as cases involving contract breach and theft of trade secrets.
One energy case involved a billion-dollar fuel logistics and trading company, which owed at least $1.45 million for crude oil that the client failed to deliver to the plaintiff. With no defense on the merits, KRCL negotiated an innovative binding baseball-style mediation with the plaintiff. The mediator chose KRCL’s lower number, and the client saved substantially on legal fees.
China’s growing influence on the world economy bring enormous opportunities for US-China cross-border transactions. The KRCL China Practice has attorneys with legal training in both the US and China who bring a unique understanding of the different business cultures and negotiation styles. KRCL advises clients in the US and China on mergers and acquisitions, as well as foreign investments and other business transactions.
The firm’s China Practice recently represented a Chinese manufacturer in establishing a$150 million facility in Tennessee. A Chinese client real estate developer worked with KRCL in the acquisition of a retail center in Minnesota for $27 million, while another Chinese owned developer was assisted in acquiring approximately 3,000 acres of land in Texas.