DUSTON MCFAUL advises clients through restructurings, distressed investments and contested proceedings. As the local practice leader in Texas of Sidley’s global restructuring group, Duston represents debtors, lenders/creditors, sponsors, boards and buyers in all aspects of Chapter 11 cases, out-of-court negotiated workouts, and the development of transaction strategies. In addition, he has prosecuted and defended a full array of matters based upon alleged business torts, valuation, fraudulent transfer, lifting of stay, rejection/assumption, conversion, cramdown, fiduciary duties and challenges to commercial transactions. Duston is licensed in both Texas and New York, and his practice has involved cases throughout most Circuits of the U.S. as well as the Virgin Islands and Puerto Rico.
Duston has been widely recognized for his leadership and guidance. At the end of 2020, he was selected to Turnarounds & Workouts “Outstanding Restructuring Lawyers” (limited to 15 professionals nationally) and was the only Texas-based attorney recognized. Highlighting his “reputation as a thoughtful and creative problem solver,” Duston has been recognized in Chambers USA for his Bankruptcy/Restructuring Law practice (2013–2017), also highlighting “his well-earned reputation as a strong presence in bankruptcy litigation,” and noting that he is “praised by clients for his great guidance and insights in negotiations…and valued by clients for his work ethic and excellent grasp of the financial aspects of situations.” Duston has been repeatedly recognized by The Legal 500 US in the area of Corporate Restructuring (2013–2020) and by The Best Lawyers in America in the categories of Bankruptcy and Creditor Debtor Rights (2010–2022), Litigation — Bankruptcy (2011–2022), and as a “Lawyer of the Year” for 2022. Duston was also selected as a Texas Super Lawyer (2013, 2017–2021), and “Top Lawyers” by Houstonia (2018–2020).
Duston recently managed the Chapter 11 restructuring of Legacy Reserves, and in January 2021, the engagement won “Restructuring of the Year” recognition in the “Large Matter” category by the national Global M&A Network/Atlas Awards. He has been active recently in public matters such as Limetree Bay Refinery, Brazos Electric, Ursa Piceance Holdings, Chesapeake Energy, Echo Energy, Legacy, PREPA/Puerto Rico, Sanchez Energy, M&G Chemicals, Fieldwood, Gavilan Resources, Kingfisher Midstream, EMAS Subsea, Preferred Sands, O’Benco Resources, Rex Energy, Beauty Brands, Bristow Group, Shoreline Energy, Southcross Holdings, Vanguard Resources, Key Energy Services, 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, and Hanjin Shipping, as well as recently leading dozens of private restructurings in the energy sector. Duston also serves as the Houston Chair of a firmwide administrative committee.