Rick Shelby
BIOGRAPHY
Rick Shelby brings a powerful combination of practical industry experience and elite legal acumen to his multi-faceted practice, which centers on bankruptcy, corporate restructuring, oil and gas litigation, and corporate governance. Before entering the legal profession, Rick spent 15 years working as an engineer and technical sales representative for the largest producer of crushed aggregates in the United States—a background that gives him an insider’s understanding of the commercial realities his industrial and energy clients face.
A seasoned restructuring advocate, Rick guides a diverse clientele through virtually every phase of insolvency. He has represented debtors, creditors’ committees, secured and unsecured creditors, and trustees in high-profile Chapter 11 reorganizations, including matters involving Port Aggregates, Harvest Oil & Gas, Pel-Tex Oil Company, and Virgin Offshore USA.
His energy practice seamlessly bridges the gap between the courtroom and regulatory compliance. He regularly handles complex disputes involving the Louisiana Oil Well Lien Act (LOWLA), master service agreements, and offshore decommissioning projects. Notably, Rick represented a Chapter 11 trustee in negotiating a landmark, first-of-its-kind funding agreement with the Bureau of Ocean Energy Management (BOEM) and the Bureau of Safety and Environmental Enforcement (BSEE) to resolve regulatory shortfalls for a debtor unable to meet federal mandates.
Rick is a formidable trial lawyer who manages all phases of complex litigation across Louisiana’s state and federal courts, including arguments before the U.S. Court of Appeals for the Fifth Circuit. He earned his J.D., summa cum laude, from Loyola University New Orleans College of Law, where he served on the Loyola Law Review and received the American Bankruptcy Institute’s Medal of Excellence. Rick is a frequent speaker on insolvency and mineral law trends, and his extensive pro bono work has earned him the New Orleans Pro Bono Project’s Century Award and the New Orleans CityBusiness “Leadership in Law” medal.
EXPERIENCES and HIGHLIGHTS
- Represented a privately held oil and gas company in an asset purchase agreement dispute against a reorganized Fortune 500 company
- Represented a major international exploration and production company in offshore royalty litigation against another major exploration and production company
- Represented a privately held oil and gas company in Louisiana state court in connection with an insurance coverage matter that was ultimately resolved in a successful reorganization of that company
- Represented a large financial client in oil and gas lease dispute and foreclosure proceeding in Louisiana state court
- Represented a title insurer in lien subordination action and purchase agreement dispute
- Represented an international construction supply company in federal court open account litigation
- Represented high net worth individuals in loan rearrangements and guarantee litigation in both federal and state courts
AFFILIATIONS
- American Bar Association
- Federal Bar Association
- Louisiana State Bar Association
- New Orleans Bar Association
- Turnaround Management Association
HONORS
- Chambers USA, Band 3, 2023-2026
- Bankruptcy and Creditor Debtor Rights
- Louisiana Super Lawyers, Thomson Reuters, 2019-2026
- Bankruptcy & Business Reorganization
- Best Lawyers in America®, Best Lawyers®, 2019-2027
- Bankruptcy and Creditor Debtor Rights | Insolvency and Reorganization Law
- Litigation – Bankruptcy
- New Orleans Magazine “Top Lawyers”, 2013, 2022-2024, 2026
- Bankruptcy and Creditor Debtor Rights
- Litigation – Bankruptcy
- Insolvency and Reorganization Law
- New Orleans CityBusiness Leadership in Law Award, 2015, 2019
- Louisiana Rising Star Super Lawyer, 2014-2018
- Bankruptcy & Business Reorganization
- Pro Bono Honor Roll, 2014
- Pro Bono Century Award by the New Orleans Pro Bono Project, 2011
EDUCATION
- Loyola University, J.D., summa cum laude, 2008
- Oregon State University, M.S., 1995
- Auburn University, B.C.E., cum laude, 1992
ADMISSIONS
- State Bar of Florida
- State Bar of Louisiana
- State Bar of Texas
SPEECHES & PUBLICATIONS
- Speaker, “Bankruptcy Issues in the Oil and Gas Industry,” The 67th Mineral Law Institute
- Speaker, Bankruptcy Industry Panel, 2022 Professional Landmen’s Association of New Orleans Conference Author, “Contingency and Hybrid Fee Arrangements in Bankruptcy,” American Bankruptcy Institute Journal, January 2025
- Speaker, “A Trending Risk and Liability on the OCS: What Happens When a Party Can No Longer Pay to Play? Gordon Arata Oil & Gas Seminar, “Louisiana Issues,” April 2014
- Speaker, “Trending Risks and Liabilities on the OCS,” The 61st Annual Institute on Mineral Law, April 2014
- Author, “McGee v. A C & S, Inc: Loss of Enjoyment of Life as a Compensable Category of General Damages”, Loyola Law Review, Spring 2008
- Author, Field Evaluation of Passive Capillary Samplers for Estimating Groundwater Recharge, Water Resources Research Journal, 2000
- Contributing Author, LSU Law Center 15th – 19th Annual Bankruptcy Law Seminar