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The RCT Legal Team

Austin Dallas New York Washington, D.C.

Bill Reid Hits the Books at UT Law School

We are excited to announce our founding partner William (Bill) T Reid IV a student at heart, with the help of several of our partners will be teaching a new course, “Complex Financial Litigation,” at the University of Texas School of Law. The inaugural course, set to begin in the upcoming Spring term, will take students through various hypothetical cases involving financial fraud as well as real-world cases that Reid Collins has handled over the years.
Read article here.

REID COLLINS WINS REMAND OF $63.6 MILLION LAWSUIT ON BEHALF OF BBVA USA

On October 26, 2020, Reid Collins prevailed on its motion to remand a $63.6 million lawsuit back to Dallas state court. The lawsuit involves BBVA’s claims against three high-ranking officers of Nobilis Health Corp., a former publicly traded company that owned and operated dozens of specialty surgical hospitals, ambulatory surgical centers, and multi-specialty clinics. BBVA alleges that these officers made negligent and/or fraudulent misrepresentations related to the company’s financial statements in order to avoid a loan covenant default and to obtain an additional loan from BBVA and its syndicate lenders.

Reid Collins Featured in Lawdragon for $750 Million Fraud Suit Against Jones Day

Reid Collins was featured by Lawdragon (link) on October 2, 2020, for a lawsuit filed in Houston state court on behalf of Precision Castparts Corp. and PCC Germany Holdings GmbH (together, “Precision”) against Jones Day for aiding and abetting fraud, conspiracy to defraud, fraud, and negligent misrepresentation. The lawsuit seeks to recover $750 million in damages for Jones Day’s role in helping its former client, Schulz Holding GmbH & Co. KG (“Schulz”), fraudulently induce Precision into purchasing Schulz’s subsidiaries for roughly €800 million. Precision already has a judgment against Schulz for the fraud. The lawsuit against Jones Day alleges that Jones Day was aware of Schulz’s fraud and took overt acts to help conceal and misrepresent the true financial condition of the Schulz’s subsidiaries.
See full story here.

Reid Collins Obtains $1 Billion Judgment Against John Mayo and Celtic Pharma Fund

On September 29, 2020, Reid Collins obtained a $1 billion judgment in New York State Supreme Court on behalf of affiliates of Highland Capital Management, L.P. against John Mayo and a group of Celtic Pharma entities that Mr. Mayo co-founded with his business partner, Stephen Evans-Freke. After the trial court and First Department each rejected attempts to dismiss the case by Mr. Mayo and the Celtic Pharma entities, it subsequently entered judgment in the plaintiffs’ favor, including for claims against Mr. Mayo as an alter ego of various Celtic Pharma entities that defaulted on senior secured notes issued to the plaintiffs. The plaintiffs’ claims against Mr. Evans-Freke and his current fund, Auven Therapeutics (as alleged successor to the Celtic Pharma investment manager that defaulted) remain pending in the trial court.

A new podcast from LawClerk features an illuminating interview with Reid Collins & Tsai founder Bill Reid.

Reid is featured in the second episode of the podcast, The Successful Business and Practice of Law, discussing highlights from his career and insights on running a successful litigation boutique, including billing and compensation structures.
“Some lawyers have the view that suing a lawyer is somehow beneath us,” says Reid in the candid interview. “I had the opposite view, I think people make mistakes whether they’re lawyers or directors of companies or accountants. So one of the national calling cards we have wasn’t born out of some savvy, ‘hey we want to be legal malpractice lawyers.’ It was more born out of the fact that no one else would do them.”
Listen to the podcast here

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

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