DUSTON MCFAUL advises clients through restructurings, deleveraging transactions, distressed investments, and contested proceedings. As the Texas practice leader of Sidley’s global Restructuring group, he manages teams to advise borrowers, lenders/creditors, sponsors, boards, and buyers in all aspects of Chapter 11 cases and deal strategies. In addition, Duston has prosecuted and defended a full array of cases based upon valuation, fraudulent transfer, rejection/assumption, conversion, cramdown, fiduciary duties, governance contests, and challenges to commercial transactions. He is licensed in both Texas and New York, and his practice has involved cases throughout most Circuit Courts in the U.S., as well as in the Virgin Islands and Puerto Rico.
Duston is routinely called upon by clients to handle their most complex matters. Virtually every legal ranking organization has identified Duston as a leading lawyer. He was selected as one of Turnarounds & Workouts’ “Outstanding Restructuring Lawyers” in 2021 (limited to only 15 professionals nationally). In the 2025 edition of the Global Restructuring Review, clients praised the team, noting: “Very much because of Sidley, the company was able to avoid using Chapter 11 and complete a highly complex restructuring involving the company, bondholders and regulators completely out of court. This was a huge political, economic and overall business win for all parties. Duston McFaul led a terrific team from Sidley. He was able to manage the board through difficult times and keep us all focused on the objective of an out-of-court three-way settlement. He also generated several creative solutions to several complex problems.” Other recognitions include the Legal 500 United States in the area of Corporate Restructuring (2013–2025), The Best Lawyers in America® in the categories of Bankruptcy and Creditor Debtor Rights (2010–2025) and Litigation – Bankruptcy (2011–2025), and Texas Super Lawyers (2013, 2017–2025). Highlighting his “reputation as a thoughtful and creative problem solver,” Chambers USA recognized Duston for his Bankruptcy/Restructuring Law practice in Texas (2013–2016, 2024–2025), and emphasized that he “is praised by clients for his great guidance and insights in negotiations,” is “valued by clients for his work ethic and excellent grasp of the financial aspects of situations,” and exhibits a “well-earned reputation as a strong presence in bankruptcy...” In the 2025 Chambers USA edition, sources noted that Duston “is an extremely strong business partner,” “has the ability to navigate complex challenges with innovative solutions and a strategic perspective,” and “has vast experience in public company bankruptcies and he is a pleasure to work with.”
Duston recently has been active in public matters involving companies, such as Conn’s HomePlus, Pine Gate Renewables, New Fortress Energy, OYA Renewables, Independence Contract Drilling, AES Puerto Rico, Eletson Holdings, Cox Operating, Vertex Energy, El Dorado, Hugoton, Mountain Express, Cogentrix, AppHarvest, Brazos Electric Power, Ursa Holdings, Limetree Bay Refinery, PREPA/Puerto Rico, Chesapeake Energy, Legacy Reserves, Echo Energy, Sanchez Energy, M&G Chemicals, Fieldwood Energy, Gavilan Resources, Kingfisher Midstream, EMAS Subsea, Preferred Sands, O’Benco Resources, Rex Energy, Beauty Brands, Bristow Group, Shoreline Energy, Southcross Holdings, Vanguard Resources, C&J Energy, Mossi & Ghisolfi, Ultra Petroleum, Miller Energy Resources, Linn/Berry Petroleum, Trinity River Resources, Reichmann Petroleum, Exploration Partners, CHC, Black Elk Resources, Buccaneer Resources, New Gulf, Richland Resources, Key Energy Services, and Hanjin Shipping, and he has also led scores of out-of-court complex restructuring and deleveraging transactions. As part of his pro bono practice, Duston has worked with the National Veterans Legal Services Program for over a decade.
Duston frequently speaks and writes on a range of topics. Presentations include those to private forums, as well as large audiences such as the National Petroleum Energy Credit Conference, the American Bankruptcy Institute, and Advanced Business Bankruptcy conferences. Duston also has provided extensive interviews relating to restructuring and the financial markets, including with publications such as The Wall Street Journal, Bloomberg, Law360, The Street, The Deal, Texas Lawbook, Dallas Business Journal, Houston Business Journal, and the Houston Chronicle.