NEW YORK – Bracewell LLP represented Venoco, LLC in a Chapter 11 reorganization that was selected as Energy Deal of the Year (Over $100 Million to $500 Million) by The M&A Advisor as part of the 11th Annual Turnaround Awards. The award nominations, representing more than 300 participating companies, were judged by an independent jury of industry experts.
Bracewell brokered a settlement with the noteholders ending opposition to Venoco’s efforts to reorganize. Venoco’s Chapter 11 plan was then confirmed on July 13, 2016, and went effective on July 25, 2016. Prior to the Chapter 11 filings, Bracewell provided legal advice to Venoco in a series of strategic transactions that also earned Out-of-Court Restructuring Deal of the Year (Over $500 Million) at the 10th Annual M&A Advisor Turnaround Awards.
The 11th Annual Turnaround Awards will be presented on March 23, 2017, which assembles the leading distressed investing, restructuring and turnaround deal-making professionals to honor their excellence. The Awards Gala is a feature of the 2017 Distressed Investing Summit.