Thomas Charles Scannell
Partner
Thomas Scannell is a partner in Foley’s Financial Restructuring and Reorganization Practice. Since his licensure in 2009, Thomas has devoted his practice to representing secured creditors with lien enforcement and debt recoupment matters in distressed real estate. Specifically, for the last 15+ years he has represented special servicers in the multifamily sector with non-judicial foreclosure, chapter 11 bankruptcy, and collateral-based litigation. Thomas has foreclosed on hundreds of commercial properties, including apartment complexes, cattle ranches, agriculture farms, raw land, construction projects, healthcare facilities, and related real property collateral.
In addition to secured creditors’ rights in the distressed multifamily industry, Thomas’s practice also focuses on the restructuring of companies in and out of bankruptcy, debtors’ rights, and debtor-in-possession financers. Thomas counsels his clients on out-of-court workouts, turnarounds, and the acquisition and sale of distressed assets. Thomas regularly represents a broad spectrum of firm clients in a wide range of insolvency-based litigation, including Chapter 5 causes of action, lender liability litigation, and receivership proceedings.
Representative Experience
- Counsel to Fannie Mae, senior secured creditor to TerraVista Partners – Hidden Village, Ltd. (Bankr. W.D. Tex.); APEX Legacy TX (Bankr. E.D. Tex.); 2015 Park Street, LP (Bankr. S.D. Tex.).
- Counsel to Situs AMC, special servicer to pair of distressed multifamily properties in San Antonio, Texas.
- Counsel to BMO Bank, N.A., senior secured lender to portfolio of distressed multifamily properties located in numerous counties in Texas.
- Counsel to Northeast Bank, senior secured lender to distressed multifamily property in Abilene Townhomes and Condos, Inc. (Bankr. N.D. Tex.).
- Counsel to Greystone, senior secured lender to portfolio of distressed skilled nursing facilities located in numerous counties in Texas (N.D. Tex.).
- Counsel to AgAmerica Lending, senior secured lender to Binion Creek Reserves, LLC (Bankr. W.D. Tex.); Brazos Valley, LLC (N.D. Tex.).
- Counsel to Romspen Investment Corporation, senior secured lender to Longhorn Junction Land and Cattle Company, LLC (Bankr. W.D. Tex.); 3443 Zen Garden, L.P. (Bankr. W.D. Tex.); Oakview Farms, LLC (Bankr. S.D. Tex.).
- Counsel to Sabra Health Care REIT, Inc., senior secured lender to Senior Care Centers, LLC (Bankr. N.D. Tex.); Nexion Health (Bankr. N.D. Tex.); Forest Park Medical Centers (Bankr. N.D. Tex.; Bankr. E.D. Tex.).
- Counsel to Cypress Point Holdings, LLC, secured lender to SilverRock Development Corporation (Bankr. D. Del.).
- Counsel to Dr. Cadavid, Dr. Olhava and group of creditor physicians to Steward Health Care System LLC (Bankr. S.D. Tex.).
- Counsel to ValuePart, Incorporated, chapter 11 debtor (Bankr. N.D. Tex.).
- Counsel to Spherature Investments, LLC, joint chapter 11 debtor (Bankr. E.D. Tex.).
- Counsel to Chisholm Oil & Gas Operating, LLC, reorganized debtor (Bankr. D. Del.).
- Counsel to Reagor-Dykes Motors, LP, joint chapter 11 debtor (Bankr. N.D. Tex.).
- Counsel to Team Express Distributing, LLC, chapter 11 debtor (Bankr. W.D. Tex.).
- Counsel to BFN Operations LLC, joint chapter 11 debtor (Bankr. N.D. Tex.).
- Counsel to Ascent Group, LLC, chapter 11 debtor (Bankr. N.D. Tex.).
- Counsel to the Official Committee of Unsecured Creditors of Northwest Senior Housing Corporation (Bankr. N.D. Tex.).
- Counsel to the Official Committee of Unsecured Creditors of Midstates Supply Company (Bankr. W.D. Mo.).
- Counsel to the Official Committee of Unsecured Creditors of CCNG Energy Partners, LP (Bankr. W.D. Tex.).
- Counsel to the Official Committee of Unsecured Creditors of AIX Energy, Inc. (Bankr. N.D. Tex.).
- Counsel to the Official Committee of Equity Security Holders of Eastern 1996D, LP (Bankr. N.D. Tex.).
- Counsel to the Ad Hoc Committee of Limited Partners of Royalty Partners, LLC (Bankr. S.D. Tex.).
High Profile Decisions
- Jinil Steel Company, Limited v. Valuepart, Incorporated (In re Valuepart, Incorporated), No. 19-10461 (5th Cir. March 20, 2020), cert. denied (U.S. Sept. 23, 2020) (No. 20-175)
- Principal Life Insurance Company v. Revalen Development LLC, 358 S.W.3d 451 (Texas App.–Dallas 2012, Rev. Denied)
- Comerica Bank v. Rawlings, No. 12-03050, 2012 Lexis 0234 (Bankr. N.D. Tex. (October 1, 2012)
Awards and Recognition
- Best Lawyers in Dallas, D Magazine (2020, 2023, 2024)
- Best Lawyers Under 40, D Magazine (2018, 2019, 2020)
- Super Lawyers by Super Lawyers®, a Thomson Reuters business, as published in Texas Super Lawyers Magazine – Bankruptcy (2024)
- Texas Rising Star by Super Lawyers®, a Thomson Reuters business, as published in Texas Super Lawyers Magazine – Bankruptcy (2017, 2018, 2019, 2020, 2021, 2022, 2023)
- Top 100 designation (2021, 2022, 2023)
- Winner, Atlas Turnaround Awards – Corporate Turnaround of the Year (2018)
- Recognized, The M&A Advisor, 12th Annual Turnaround Awards – Chapter 11 Reorganization of the Year (Over $25MM to $100MM) (2017)
- The Honorable John C. Ford American Inn of Court – Advanced Restructuring Course Top 5 Finalist for “Rookie of the Year” (Fall 2010 semester)
Affiliations
- Member, The Honorable John C. Ford American Inn of Court (2019–present)
- Member, State Bar of Texas
- Member, Dallas Bar Association
- Member, Bankruptcy and Commercial Law Section
- Member, Real Property Law Section
- Member, Dallas Association of Young Lawyers
- Member, Dallas/Fort Worth Association of Young Bankruptcy Lawyers
- President (2014)
Community Involvement
- Volunteer, Dallas Bar Association Home Project (Habitat for Humanity)
- Volunteer, Dallas Volunteer Attorney Program, South Clinic
Presentations and Publications
- Panelist speaker, 2018 Northern District of Texas, U.S. Bankruptcy Court Bench Bar Conference – 2018 Case Law Update
Ten Minute Interview: Opportunities for Acquiring Distressed Assets
Brian Lucareli, director of Foley Private Client Services (PCS) and co-chair of the Family Offices group, sits down with Tom Scannell, partner and member of the firm’s Financial Restructuring group, for a 10-minute interview to discuss opportunities for acquiring distressed assets.
Foley Attorneys Named to D Magazine’s 2023 Best Lawyers in Dallas List
Foley is pleased to announce that four of its attorneys have been named to D Magazine’s 2023 “Best Lawyers in Dallas” list. The exclusive list honors the top attorneys in Dallas, as chosen by their peers.
Foley Attorneys Named to 2023 Texas Rising Stars List
Foley & Lardner LLP is pleased to announce that 10 attorneys from the firm’s Dallas and Houston offices have been named to the 2023 Texas Rising Stars list.
Foley Attorneys Named to 2022 Texas Rising Stars List
Foley Attorneys Named to 2021 Texas Rising Stars List
Foley & Lardner LLP is pleased to announce that 11 attorneys from the firm’s Dallas and Houston offices have been selected for inclusion in the 2021 Texas Rising Stars list.
Foley & Lardner’s Dallas Office Announces Three New Partners: Christopher J. Babcock, Thomas Scannell and Dovi Adlerstein
Just recently, 19 Foley & Lardner employees were promoted, including the transition of two senior counsels and one counsel to partner roles at the Dallas office.