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Getting to Know: Jason Cohen

Jason Cohen’s practice focuses on corporate financial restructuring. Over the last 10 years, he has represented corporate debtors and senior and junior secured creditors in all phases of corporate debt restructurings, including negotiating out-of-court workouts and litigating in-court chapter 11...

Energy XXI Pursues Deleveraged Balance Sheet via Chapter 11

Yesterday, Energy XXI Ltd. became the latest domestic oil and gas company to pursue a more deleveraged balance sheet via Chapter 11 restructuring. This does not come as a surprise to those following the company – for much of the last three months Energy XXI’s stock has been trading at less than $1.00 per share. According to the press release issued by the company, the filing comes after the company reached agreement with more than 63% of second lien note holders on the material terms of the restructuring. The restructuring is intended to eliminate more than $2.8 billion in debt from the...