Glenn Agre Bergman & Fuentes, serving as special litigation counsel to the Basic Energy Litigation Trust, secured a significant court victory on June 15, 2026, when Judge Christopher Lopez of the Southern District of Texas Bankruptcy Court denied a majority of the former directors’ motion to dismiss the litigation trust’s amended complaint — allowing the bulk of the trust’s more than $100 million claim to proceed. Partner Agustina Berro argued the motion to dismiss.

The Basic Energy Litigation Trust retained Glenn Agre to pursue post-bankruptcy claims against former officers and directors of Basic Energy Services, Inc. The D&O action alleges that the defendants breached their fiduciary duties in connection with the company’s 2020 acquisition of C&J Well Services Inc. and a related transaction in which operating subsidiaries guaranteed parent-level debt for no consideration.

Judge Lopez denied defendants’ motion to dismiss three out of four claims asserted in the trust’s amended complaint. The court’s ruling means the trust’s core fiduciary duty claims — including duty of loyalty and good faith claims against the board — will move forward. Additionally, breach of fiduciary duty claims against Keith Schilling, director and sole manager of the debtor subsidiaries, were permitted to continue, as allegations suggest insolvency at the time of the acquisition.

Glenn Agre also represents the trust in a parallel fraudulent conveyance action against NexTier Holding Co. in connection with NexTier’s sale of C&J Well Services to the debtors shortly before the company’s bankruptcy filing. The NexTier fraudulent conveyance action remains pending before the court.

The Glenn Agre team includes partners Andrew K. Glenn, Kurt A. Mayr, and Agustina Berro and associate Naznen Rahman.