A litigation boutique with a plaintiff-side ethos, Reid Collins & Tsai has crafted itself as a maverick in the world of trial litigation. The firm has strategically expanded from its Texas roots to include posts in the New York, Delaware and District of Columbia markets. The firm's calculated five-office footprint has amassed national recognition, notably for its high-stakes commercial and bankruptcy litigation. An appreciative client testifies, “Reid Collins represented me in my capacity as a Trustee for a post-confirmation bankruptcy trust where they pursued recovery of significant avoidable transfers.”
Co-founding partner hailing from the Austin office, Bill Reid enjoys a far-reaching reputation as an all-purpose trial lawyer equipped to handle any case. He and the team have led a variety of critical lawsuits, obtaining and preserving billions of dollars in judgments, settlements, and value while creating critical precedent in myriad financial fraud, insolvency, and professional liability matters, among others. In one such matter, Reid leads a team that is litigation counsel for the lead trustee of GWG Litigation Trust in connection with the investigation and pursuit of the debtors’ potential litigation claims. The investigation seeks to expose and remedy an alleged self-dealing scheme that resulted in the debtors losing hundreds of millions of dollars prior to and connection with the Chapter 11 of GWG, a provider of insurance services, which encompassed several instances of fraudulent transfer and other malfeasance.
The Litigation Trust has reached four settlements so far in the case,
which resulted in approximately $91.3 million in total gross recoveries.
Eric Madden also
enjoys a rising profile on the strength of his bankruptcy and commercial work, burnishing his credentials further with a “Bankruptcy Litigator of the Year” win at the Benchmark awards gala in March 2025. Madden represents the successor to Insys Therapeutics, Insys Liquidation Trust, formed after the company’s illegal off-label marketing scheme led it to bankruptcy due to a series of criminal proceedings, class actions and civil cases that resulted in racketeering charges against executives and a $225 million fine to settle other investigations. Madden served as lead counsel in the company’s investigation and prosecution of claims against former executives and related professionals. He successfully negotiated a $175 million settlement with the company’s outside directors – among other favorable settlements and judgments. “Eric Madden is a very strategic thinker and extremely thorough,” extols a client. “He has consistently demonstrated his strong analytical, creative, communication and negotiating skills in the cases where I’ve had the opportunity to work with him.”
Managing partner and co-founder Lisa Tsai led a matter on which she filed suit on behalf of a partner and co-founder of private-equity entity Emerald Lake Capital Management against several individuals who are alleged to have engaged in a bad-faith scheme to confiscate the client’s valuable partnership interest and carried interest grants, and attempting to conceal this by making false and defamatory statements to Emerald Lake investors. The client sought no less than $40 million in compensatory damages. A client weighs in with glowing commentary on Tsai's behalf: "If you are a plaintiff with a complex business dispute and significant value on the line, you need Lisa Tsai in your corner. Tsai is battle tested and one of the most skilled professionals I have ever worked with. She will literally run circles around big law teams three times her size. She is the kind of person who can quickly diligence a complex case, file it, take it through trial, and stand up a massive verdict against a well-resourced opponent."
