In re: Particle Drilling Technologies, Inc.

Hugh Massey Ray III

Case Conclusion Date:August 3, 2009

Practice Area:Chapter 11 Bankruptcy

Outcome:Sucessfully Sold Patents Free of Royalty Claims

Description:Trial counsel for publicly-traded oilfield technology company in sale of patents free and clear of $300 Million in filed royalty claims. Lead trial counsel successfully winning "cram-down" plan of reorganization to convey the patents without royalty claims.