Episodes

  • Rock N Roll Judge: Former Chief Judge of Southern TX Talks Law’s Spirit, Evolution & Future

    Rock N Roll Judge: Former Chief Judge of Southern TX Talks Law’s Spirit, Evolution & Future
    Jan 8 2026
    They call him the Rock and Roll Judge; a man who could go from a courtroom to a concert stage without missing a beat. He's run marathons, played tuba, directed Broadway musicals, and reshaped how bankruptcy law is practiced in America— but Judge Richard Schmidt is known above all else for his deep respect for people and having a courtroom that ran like a symphony. In today’s episode, the retired Chief Judge of the Southern District of Texas discusses the evolution of Chapter 11, the human side of financial collapse, and the “rock and roll” spirit behind the bench. Key Insights & Timestamps: [00:00] Podcast begins [02:18] Broadway & the Bench: Serving as a judge while engaging in the community arts [06:00] Commander to Chief: Using air force leadership experience in the courtroom [17:12] Big Cost to Go Broke: Evolution of bankruptcy law into a high-cost game [28:06] Lessons Learned: Cases that tackled law & language barriers for Judge Schmidt [33:37] Advice for Law’s Next Generation: Managing the high stakes of bankruptcy law today Guest Spotlight: Judge Richard Schmidt Judge Richard Schmidt is a retired federal judge in Corpus Christi, TX, with 28 years of exemplary service on the Southern District of Texas bench. As a bankruptcy fiduciary, consultant, mediator, and arbitrator, he brings a wealth of experience and expertise to assist bankruptcy cases across the United States. Key Takeaways: From the Big Stage to the Court Room: When Judge Schmidt became the first bankruptcy judge in Corpus Christi, he was new to the community and sought many ways to get involved outside of the court room, including tapping into his past experience in musicals and symphonies. I think the public is entitled to know their judge,” Schmidt says of his time in Christi, “To the extent that you can be involved in things that are not judging, then you get to know the community.” Complex Cases & Chapter 11: The first complex case filed in Judge Schmidt’s courtroom was Greyhound, and he learned quickly about the importance of multiple hearings, lawyers on call, and fast decision making. There are a lot of decisions that have to be made right in a hurry, and they need a judge that can handle a complex case,” Schmidt explains when discussing the Greyhound case. “Not all judges are meant for complex cases, so I started developing a system.” Navigating High Stakes Cases: Advice for today’s lawyers and judges hits home for Judge Schmidt, whose daughter currently practices bankruptcy law and has sought his wisdom in the past with high profile cases. “For most judges, the rules are very important,” Schmidt says of practicing bankruptcy law. “I think you need to know the judge, his staff or her staff, and the clerk of the court.” Resources Mentioned: Judgerss.com Connect with Judge Richard Schmidt: Judgerss.com/contact/ Produced by Speakerbox Media.
    Show More Show Less
    37 mins
  • No Guts, No Glory: Doug Brickley on the High-Stakes World of Turnarounds

    No Guts, No Glory: Doug Brickley on the High-Stakes World of Turnarounds
    Dec 4 2025
    Restructuring a company is not a 9-to-5 job, it's more like working in an emergency room. What does it really look like when the phone rings at 5pm on a Friday night? 20-year advisory firm veteran Douglas Brickley, the current Managing Director at Stout, has been in the trenches. In today’s episode, Doug isn’t afraid to talk shop about what he’s learned, where things can go wrong, and why restructuring might be headed in a new direction. Key Insights & Timestamps: [00:00] Podcast begins [01:15] What Is a Restructuring Professional? Diverse skillsets & dynamic understanding [08:41] How Do You Manage a Crisis? The 24/7 job of a restructuring position [19:35] What About Private Equity? Liquidation costs & a lack of fixing businesses [31:50] Why Do These Companies Get In Trouble? Outsider perspectives on the industry [39:55] Who Stands Out? Personal experiences, lessons learned & victories made Guest Spotlight: Douglas Brickley Douglas Brickley is the Managing Director at Stout, a global advisory firm specializing in corporate finance. He held previous similar roles at The Claro Group, Jefferies, KPMG, and LECG. Key Takeaways: Finance or Operations? When it comes to background, Doug believes that a strong restructuring professional doesn’t have to have one type of background. “I think there's not one right background and one right path,” Doug explains. “I think that you need to supplement your core competencies with other areas. I need to make sure with my finance background, I have people on my team that are good at operations.” 9-to-5 or 24/7? Restructuring professionals are no stranger to a 5pm panicked phone call or a weekend crisis.” I think technology has been a little liberating in dealing with those crisis calls,” Doug acknowledges. “But it is usually a scramble. It’s almost impossible to have absolute boundaries in our business.” Management or Business Model? Outsiders to the industry always want to know how companies get to such a dire state of financial restructuring, but there’s never just one answer. “Overly aggressive lenders and private equity firms that want to leverage a business up doesn't help,” Doug clarifies. “If you are over-leveraged and there's any kind of hiccup in the business or the market, that’s very difficult to recover from.” Resources Mentioned: Stout | stout.com Connect with Douglas Brickley: LinkedIn For More Information: Produced by Speakerbox Media. [Insert Additional Links] Call to Action: If you want the unfiltered truth behind corporate collapse — and the lessons hidden in the fine print of Chapter 11 — hit follow on Reviving Giants. Share this episode with a colleague in finance, law, or operations, and join the conversation on where bankruptcy law is headed next.
    Show More Show Less
    48 mins
  • Reviving Giants Trailer

    Reviving Giants Trailer
    Nov 6 2025
    What does it take to rescue a company from the brink of collapse? Hosted by veteran turnaround expert Drew McManigle, Reviving Giants takes listeners behind closed doors of boardrooms, courtrooms, and crisis meetings where business survival hangs in the balance. Each episode dives into real stories of billion-dollar bankruptcies, high-stakes turnarounds, and the leaders who fought to pull companies back from the edge. With over three decades of experience guiding distressed businesses through complex recoveries, Drew brings an insider’s perspective to the strategy, pressure, and human decisions that define the art of the comeback. From oil and gas to retail, tech, and healthcare, Reviving Giants explores what happens when the numbers stop working—and what it takes to bring them back to life. No company is too big to fall—but some are built to rise again. A podcast from MACCO Restructuring Group.
    Show More Show Less
    1 min
  • The Cost of Going Broke: John Melko on the Billion-Dollar Business of Bankruptcy

    The Cost of Going Broke: John Melko on the Billion-Dollar Business of Bankruptcy
    Nov 6 2025
    The year was 1978. A new bankruptcy code hit the books, and suddenly, the playbook for American business failure was rewritten. 47 years later, we're still living in its shadow. John Melko is a seasoned restructuring attorney and partner of Foley & Lardner and has watched bankruptcy courts evolve from its reformist roots to the high stakes, high cost beast it is today. In this episode, John helps us unpack the rise of Chapter 11, the potential fall, the industries it has failed, and the billion dollar burn rate it now takes just to go broke. This isn't theory; it's the hard truth behind corporate collapse. Key Insights & Timestamps: [00:00] Podcast begins [01:53] Where Did We Start? John’s history with the Bankruptcy Reform Act [11:25] What Will Chapter 11 Do For Me? The expensive process of bankruptcy litigation [23:36] Do You Know What You’re in For? Experienced vs inexperienced bankruptcy clients [34:13] What About Venue? Why lawyers & corporations play the location game [46:11] How Expensive to File? Billing rates & the billion dollar reputation of business cases [01:05:48] Are There Going to be More Bankruptcies? The next cycle of failures to come Guest Spotlight: John Melko John Melko is a partner with Foley & Lardner LLP. His practice focuses on complex sales, acquisitions, bankruptcies, and financings in the energy sector throughout the United States, as well as shipping-related issues in both foreign and domestic cases and financings. John has years of cross-border and multinational experience with oil and gas exploration and production, refining and marketing, airlines, telecommunications, electric utilities, manufacturing, retail, rig and ship finance, mass torts, and asset-backed securities. Throughout his career, John has helped guide clients through dislocations in the energy, shipping, telecommunication, real estate and health care markets, utilizing chapter 7, chapter 11, and chapter 15 procedures. John also serves as co-chair of the firm's Bankruptcy & Business Reorganizations Practice and vice-chair of the firm’s Oil & Gas Industry Team. Key Takeaways: Billion Dollar Broke: John doesn’t shy away from the expensive reality of Chapter 11: it's going to cost your company a lot of money. “You have to think of a chapter 11 filing like a lawsuit,” John says. “The thrust here is going to be to get your company in, reorganize it quickly, and get it out.” Running the Math on Rates: For a Chapter 11 case, John has had to turn clients away because the cost of training, overhead, and associates for a bankruptcy case can be so high. “The cost of the hourly rate and the number of lawyers that are put on has gotten very high,” John explains. “In the real big cases, you're gonna need a lot of different disciplines. I've been in depositions where there have been eight lawyers from the same firm.” Crystal Ball of Bankruptcy’s Future: When the future comes knocking, John believes that more failures are on the horizon. “There are industries that are import dependent that will be hit hard,” John hypothesizes. “They will have tariff issues, interest rate issues, consumer issues.” Resources Mentioned:Foley & Lardner LLP | foley.com Connect with John Melko: • https://www.linkedin.com/in/john-melko-82b1899a/ For More Information: Produced by Speakerbox Media. For more, visit https://www.macco.group/news Call to Action: If you want the unfiltered truth behind corporate collapse — and the lessons hidden in the fine print of Chapter 11 — hit follow on Reviving Giants. Share this episode with a colleague in finance, law, or operations, and join the conversation on where bankruptcy law is headed next.
    Show More Show Less
    1 hr and 9 mins