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David R. Payne

ASA, CPA, ABV, CIRA, CDBV, CTP, Managing Director, Bankruptcy, Reorganization and Restructuring, Fraud Investigations
Managing Director
Contact Info:
Email:
[email protected]
tel:
405.272.0511
Oklahoma City:
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Selected Experience
  • Forensic Investigations
  • Family Law
  • Commercial Litigation
  • Receiverships
  • Bankruptcy
Licenses & Designations
  • Certified Public Accountant
  • Accredited in Business Valuation
  • Certified Insolvency and Restructuring Advisor
  • Certified Turnaround Professional
  • Certified in Distressed Business Valuation
  • Accredited Senior Appraiser
Education
  • B.S. (Accounting)
    Oklahoma Christian University
Background

Mr. Payne is a Managing Director with over forty (40) years of accounting, consulting and valuation experience in both public and private industry. He joined Marshall & Stevens in 2025 with the acquisition of D.R. Payne & Associates. Mr. Payne previously worked in a number of financial positions in industry, including serving as Controller and Chief Accounting Officer of a publicly-traded E&P Company, in addition to working as a partner in a Big Six Accounting and Consulting Firm.

Mr. Payne is a graduate of Oklahoma Christian University (B.S. in Accounting 1980). He has participated in or instructed continuing education programs in the areas of valuation, bankruptcy accounting, litigation support, and turnaround management. Mr. Payne has attended strategic planning seminars, activity based costing and business valuation courses offered as executive training. Mr. Payne has completed courses, passed examinations and/or achieved direct experience required in public accounting, appraisal, turnaround management and restructuring disciplines to become certified.

Professional Highlights
Professional Memberships
  • Fellow, American College of Bankruptcy, 10th Circuit, 33rd Class
    Diversity, Equity, and Inclusion Committee
  • National Board of Directors – Association of Insolvency and Restructuring Advisors
    President
    Valuation Standards Committee
    Strategic Planning Committee
    DEI Committee
    Certification Committee
  • Member of the American Society of Appraisers
  • Past President and Treasurer of Oklahoma Chapter
  • Member, Association of Certified Fraud Examiners
  • Member, Turnaround Management Association
  • Member, International Business Brokers Association
  • Member, Oklahoma Society of Certified Public Accountants
  • Member, American Institute of Certified Public Accountants
Selected Experience

Management Assignments

  • Interim Chief Executive Officer
  • Outsourced Chief Financial Officer
  • Chief Development Officer
  • Chief Restructuring Officer
  • Operating Agent

Court Appointed Assignments

  • Chapter 11 Trustee
  • Chapter 11 Examiner
  • Chapter 11 Restructuring Officer
  • Court Appointed Expert Witness, F. R. E. 706
  • Federal District Court Receiver
  • State Court Receiver

Professional and Expert Witness Assignments

  • Damages Assessments – Contract, Torts, Warranty, Anti-Trust, Infringement, Securities, Minority Shareholder, Wrongful Termination/Death – Over 300 Cases
  • Forensic Accounting Assessments – Claims Measurement, Indicia, Factors and Tests
  • Alter Ego, Fraudulent, Conveyance, Badges of Fraud, Concealments, misstatements, and Breach of Duty, Negligence, professional Standards – Over 100 cases
  • Insolvency and Reorganization Evaluations – Cash Collateral, Conversion, Dismissal, Avoidance Actions, Confirmation, Absolute Priority and Feasibility – Over 500 cases
  • Out of Court Restructurings – Over 200 clients
  • Valuations and Appraisals – Over 30,000 hours
  • Accountings and Forensic Investigations – Reconstructing of Books and Records, Tracing of Funds, Dissolution Accounting, Project Accounting, Transfer Pricing and other Financial/Business Conduct Disputes – Over 300 matters

Publications, Articles and Presentations

  • “Insolvency Prove It”, 39th Annual Bankruptcy & Restructuring Conference, June 2023
  • Best Practices for a Hotel Receivership, Commercial Receivers Association, November 2022
  • ABI Panel, Oil & Gas Tools in the Toolbox, American Bankruptcy Institute, October 2022
  • 5th and 10th Circuit Ethics Program in a Game Show Format, American College of Bankruptcy, July 2022
  • Substantive Consolidation of Non-Debtor and/or Reverse Veil Piercing, Oklahoma Bar, Advanced Bankruptcy, December 2021
  • Energy Restructuring; Lex Mundi Virtual Series, April 2021
  • “Small Business Financial Restructuring Options Under SBRA and the Cares Act” State Chamber of Oklahoma, May 2020
  • “Cycles in Energy Pricing and Effects on Market Sector Participants” Meinders School of Business, Oklahoma City University, July 2015, June 2016, November 2017 and July 2020
  • “Value For What Purpose, To Whom” Structural Engineering Council of Oklahoma February 2017
  • “Exposure Draft of Distressed Business Valuation Standards Expected to Be Approved During 2013,” Association of Insolvency & Restructuring Advisors Journal, Volume 27, Number 2-2013
  • “Individual Chapter 11 Proceedings” Association of Insolvency and Restructuring Advisors’ 24th Annual Bankruptcy & Restructuring Conference, June 2011
  • “Distressed Assets and Companies – Financing Issues” Rocky Mountain Mineral Law Foundation, January 2010 Whitepaper
  • “Recent Case Rulings Center Around the Cornerstone General Standards Within the Professions,” Association of Insolvency and Restructuring Advisors Journal, February/March 2009
  • “Valuation of Small, Troubled Businesses,” Association of Insolvency and Restructuring Advisors Conference, June 2008
  • “Fraud: A View From The Private Sector,” Clifton H. Scott, Oklahoma State Auditor and Inspector – Questioning and Detecting Fraud, December 1998
  • “How Structures Affect Valuation and Discounts,” Family Law Symposium, Oklahoma Bar Association, November 1998
  • “Utilizing Business Appraisals as a Benchmark for Evaluating Contested Single Asset Real Estate Cases,” Whitepaper, November 1997
  • Energy/Utility Industry Outlook, Association of Insolvency Accountants, May 1997
  • “Alternatives to Bankruptcy,” North American Petroleum Conference, May 1992
  • “Role of the Reorganization and Insolvency Accountant,” Oklahoma County Bar, May 1992
  • “Post Petition Financing and the Capital Crisis,” Oklahoma Bar, Advanced Bankruptcy, December 1991
  • “The Farmout Bills, A Closer Look,” American Bankruptcy Institute, June 1988