 OverviewAs the Managing Shareholder for Munsch Hardt's Austin office, Jay concentrates his practice on bankruptcy, reorganization and creditors’ rights as well as corporate finance and commercial litigation. He has extensive experience representing various parties in bankruptcy and large business reorganizations including senior lenders, trustees, debtors, committees, receivers, trade creditors, bond holders and insurers in addition to commercial defendants. He has served as a Chapter 11 Trustee, and is a frequent speaker, lecturer and course instructor on restructuring and commercial litigation issues including for the State Bar of Texas. Jay also frequently provides speeches and lectures on topics such as complex business bankruptcy issues, financial management, improving public education and persuasive speaking and writing, and has served as Co-head Coach of The University of Texas School of Law National Bankruptcy Moot Court competition teams since 2006. Memberships
- American Bankruptcy Institute
- Austin Asian American Bar Association, Bankruptcy Section
- National Asian Pacific American Bar Association
- State Bar of Texas 2015 Bankruptcy Bench Bar (Planning Committee)
- State Bar of Texas, Bankruptcy Law Section (Young Lawyers Committee)
- The Honorable Larry E. Kelly Bankruptcy Inn of Court (Founding Member / Barrister)
- The University of Texas School of Law National Bankruptcy Moot Court Competition Team (Co-head Coach)
- The University of Texas Jay L. Westbrook Annual Bankruptcy Conference (Planning Committee; 2017 Presiding Officer)
- Turnaround Management Association
- United States Bankruptcy Court for the Western District of Texas
OverviewAs the Managing Shareholder for Munsch Hardt's Austin office, Jay concentrates his practice on bankruptcy, reorganization and creditors’ rights as well as corporate finance and commercial litigation. He has extensive experience representing various parties in bankruptcy and large business reorganizations including senior lenders, trustees, debtors, committees, receivers, trade creditors, bond holders and insurers in addition to commercial defendants. He has served as a Chapter 11 Trustee, and is a frequent speaker, lecturer and course instructor on restructuring and commercial litigation issues including for the State Bar of Texas. Jay also frequently provides speeches and lectures on topics such as complex business bankruptcy issues, financial management, improving public education and persuasive speaking and writing, and has served as Co-head Coach of The University of Texas School of Law National Bankruptcy Moot Court competition teams since 2006. ExperienceCommittee Representation Represented the Official Unsecured Creditors’ Committee for Life Partners Holdings, Inc., which filed for Chapter 11 after entry of a $47 MM judgment in favor of the SEC. Life [more]Represented the Official Unsecured Creditors’ Committee for Life Partners Holdings, Inc., which filed for Chapter 11 after entry of a $47 MM judgment in favor of the SEC. Life Partners managed a $2.4 billion insurance portfolio of “life settlements.” The Joint Plan was confirmed after a 5 week contested confirmation hearing, making it the first “life settlement” company to successfully emerge from bankruptcy with a confirmed Chapter 11 Plan. [less]Creditor Representation Served as lead counsel for Community National Bank and West Texas National Bank, senior secured bank lenders, in connection with the bankruptcy cases of a major oil [more]Served as lead counsel for Community National Bank and West Texas National Bank, senior secured bank lenders, in connection with the bankruptcy cases of a major oil and gas supply enterprise (DRM Sales and Supply, LLC / DRM Rental Properties LLC), in which a Chapter 11 bankruptcy plan was successfully confirmed in 2016 based on the structure of the lenders’ Court approved bankruptcy settlement. [less]Debtor Representation Served as lead Debtor’s counsel in the successful restructuring of the U.S.-based, affiliate operations (Reservoir Exploration Technologies, Inc.) of a seismic exploration [more]Served as lead Debtor’s counsel in the successful restructuring of the U.S.-based, affiliate operations (Reservoir Exploration Technologies, Inc.) of a seismic exploration and drilling technology enterprise based in Norway. The Chapter 11 bankruptcy plan for the debtor was confirmed in 2015, providing for 100% distributions on account of allowed claims. [less]Creditor Representation Represented the property owners association for a major, luxury golf course, country club and residential community in the bankruptcy case of the private club (In re Crosby [more]Represented the property owners association for a major, luxury golf course, country club and residential community in the bankruptcy case of the private club (In re Crosby Golf Club). Munsch Hardt successfully litigated a request by the association to transfer the venue of the case from North Texas to the Central District of California. Munsch Hardt believes that it is the sole firm in the entire United States to feature two bankruptcy attorneys, including Mr. Ong, who have successfully transferred the venue of more than one golf course business bankruptcy case across the country. [less]Creditor Representation Represented a quasi-state agency and statutory association (Texas Property and Casualty Insurance Guaranty Association) in the jointly administered bankruptcy cases of [more]Represented a quasi-state agency and statutory association (Texas Property and Casualty Insurance Guaranty Association) in the jointly administered bankruptcy cases of affiliated debtors implicating substantial allegations of fraud. Through Mr. Ong's efforts, a single Chapter 7 trustee was installed for all of the debtors' estates, and the client prevailed upon the trustee to engage the client's co-counsel as the trustee's special litigation counsel. Thereafter, Mr. Ong worked with co-counsel in order to successfully negotiate a global settlement providing for substantial distributions to creditors of all of the debtors' estates. [less]Trustee Representation Represented the Chapter 11 Trustee of a holding company for a technology enterprise, and for a bankruptcy estate involving substantial claims for theft of corporate [more]Represented the Chapter 11 Trustee of a holding company for a technology enterprise, and for a bankruptcy estate involving substantial claims for theft of corporate opportunity. Mr. Ong successfully negotiated, formulated, obtained confirmation of and implemented a Chapter 11 plan providing for 100% distributions on account of allowed claims. [less]
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