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The RCT Legal Team

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A Note to our Clients

Dear Clients and Friends:
Like you, we are monitoring the rapidly evolving situation related to COVID-19. Our priority is to protect the health and wellbeing of our Reid Collins’ families, and to contribute to safeguarding the most vulnerable in our communities, while still providing you with the creative, relentless, and exceptional representation you deserve.
On that note, we made the decision last week to close our offices and allow our employees to work remotely indefinitely to ensure we are doing everything we can to aid containment efforts. For us, the decision was not difficult because remote work has always been very much part of the Reid Collins business model. Our entire team is equipped with the technology and resources they need to continue to serve your needs from any location as we navigate these uncertain times.
For now, we want you to know that you can continue to reach each of us at our usual email addresses and office telephone numbers. More importantly, we want to assure you that we are continuing to carry on the important work you have entrusted to Reid Collins: representing you.
If you have any questions or concerns, please reach out day or night. We are here for you.

Best wishes to you and your families from your friends and counselors,
Reid Collins & Tsai LLP

Benchmark Awards Plaintiff Attorney of the Year to William T. Reid IV

Reid Collins capped off a record-setting first quarter with founding partner William T. Reid, IV being named Plaintiff Attorney of the Year by Benchmark Litigation, a leading guide to litigation firms and attorneys. The firm, which celebrated its 10th anniversary late last year, was also named as one of five finalists for Plaintiff Firm of the Year for the second consecutive year, as well as making the shortlist for Texas Firm of the Year.

The accolade caps off an impressive award season for Reid Collins, which was also recognized by the National Law Journal Elite Trial Lawyers Law Firm of the Year in both Commercial Litigation and Bankruptcy last month. The firm beat stiff competition from some of the legal industry’s best-known names to take the accolades, which recognize U.S. based law firms that have performed cutting-edge work on behalf of plaintiffs.

Read article here.

REID COLLINS FILES $300 MILLION LEGAL MALPRACTICE SUIT AGAINST BROWN RUDNICK

On February 5, 2020, Reid Collins filed an amended complaint on behalf of the LB Litigation Trust against Brown Rudnick LLP for legal malpractice and breach of fiduciary duty. The LB Litigation Trust alleges that Brown Rudnick botched the prosecution of a $300 million preference claim by failing to prove that the debtor, Lyondell Chemical Company, was insolvent at the time of the preferential transfers. Specifically, as alleged in the complaint, Brown Rudnick inexplicably missed $8 billion in liabilities owed by Lyondell that clearly rendered the debtor insolvent. Brown Rudnick also failed to submit an expert opinion on Lyondell’s insolvency and misunderstood well-established law on how to prove a preferential transfer under the Bankruptcy Code. The complaint further alleges that Brown Rudnick internally acknowledged its mistakes but concealed its malpractice from the Trust.
Read complaint here.

REID COLLINS DEFEATS MOTION TO DISMISS $550 MILLION LAWSUIT AGAINST STERLING PARTNERS

On January 21, 2020, Reid Collins defeated a motion to dismiss its $550 million lawsuit against Sterling Partners on behalf of the Adeptus Litigation Trust. The suit alleges that Sterling and its co-defendants breached their fiduciary duties to Adeptus Health Inc., a former public company and largest owner of free-standing emergency rooms in the country. Specifically, the suit alleges that Sterling forced Adeptus to buy out its position at artificially inflated prices shortly before Adeptus collapsed into bankruptcy. In denying Sterling’s motion, the Delaware Chancery Court described the case as involving “a very sophisticated pump-and-dump scheme . . . carried out by a highly sophisticated investment firm.”
See hearing transcript here.

BEN BARNES LISTED AMONG BEST LAWYERS UNDER 40 IN DALLAS

Each year, D Magazine honors up-and-coming attorneys in Dallas by publishing its list of the best lawyers under 40 in Dallas. Honorees are nominated by their peers and selected by an anonymous panel of esteemed local lawyers.
D Magazine included Ben Barnes of Reid Collins & Tsai LLP as one of the Best Lawyers Under 40 in Dallas in 2020.
See story here.

The attorney responsible for this website is William T. Reid, IV

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