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Financial Restructuring

Financial Restructuring

Our cross-disciplinary team of financial restructuring lawyers is known throughout the U.S. and internationally for regularly advising on special situations, distressed investments and acquisitions, lending and financing activities in connection with both Chapter 11 proceedings and out-of-court transactions. We counsel noteholders and bondholders, and have been recognized for our work for private investment funds, financial institutions, commercial lenders, corporate borrowers and debtors, and institutional investors including insurance companies, mutual funds and pension funds.

We work with Bracewell’s vast energy industry team, particularly well-known for representing creditors and borrowers in distressed upstream, midstream and downstream restructuring and insolvency transactions. We also have a globally-recognized practice representing international shipping groups and their bondholder and lender constituencies. Additionally, our financial restructuring lawyers have substantial experience handling fraudulent transfer, fiduciary duty, lender liability, valuation and other complex litigation issues that arise in Chapter 11 cases.

To keep our clients and others abreast of the changes in the market, our restructuring lawyers regularly publish writings and post information and commentary to our award-winning Basis Points Blog, a leading source of information on the latest happenings in restructuring and bankruptcy.

Access our Financial Restructuring Insights


Recent Notable Matters

Eastern Outfitters, LLC — Chapter 11 proceedings for the outerwear retail company and its debtor affiliates, culminating in successful 363 sale

ENI Petroleum Co., Inc. — joint venture partner of Quicksilver Resources in Quicksilver’s Chapter 11 proceedings

ENXP Holding Company, LLC — Energy & Exploration Partners, Inc.’s Chapter 11 bankruptcy cases

Equity owner of Excel Maritime, Ltd. — corporate restructuring and Chapter 11 proceeding

Equity owner of Toisa, Ltd. — corporate restructuring and Chapter 11 proceeding

Investment Fund — claims as second lien lender in the Chapter 11 proceedings of an oil and gas explorer and its subsidiary debtors with more than $550 million of debt obligations

Investment Funds — restructuring the debt of the Commonwealth of Puerto Rico and its agencies

Large commercial bank — indenture trustee for a group of holders of bonds in connection with the New York Yankees parking garage operations and financial restructuring

Linc USA GP — Chapter 11 proceedings currently pending in the U.S. Bankruptcy Court, as debtor

Major international bank — administrative agent to the first lien bank group in the Chapter 11 proceedings of an oil and gas explorer and its subsidiary debtors with more than $680 million of debt obligations

Major international bank — claims in the Chapter 11 proceedings of an oil and gas explorer and its subsidiary debtors with more than $250 million of debt obligations

Management investment company — $175 million second lien term loan to a public exploration and production company, as administrative agent

Marco Polo Seatrade, B.V. — Chapter 11 cases in the U.S. Bankruptcy Court for the Southern District of New York

Nordheim Eagle Ford Gathering, LLC — a pipeline gatherer, in a contract rejection dispute involving major issues of first impression to the oil & gas sector

Omega Navigation — a NASDAQ-traded company, which wholly owns eight tankers that transport refined petroleum products, chemicals and other liquids worldwide

One of Europe’s largest financial services organization — out-of-court restructuring of a note to a Denver, Colorado-based corporation

Optim Energy, LLC — Chapter 11 proceedings, including the $126 million sale in a bankruptcy auction of the 305 MW coal-fired Twin Oaks Plant to a unit of Blackstone Group LP and the confirmation of a plan of reorganization for its other operational power plants

Private equity fund — insolvency of Australian company’s U.S. subsidiary

Private placement noteholder groups — multiple restructurings of various domestic and Australian companies

Sobelmar Antwerp N.V. — debtors in their Chapter 11 proceedings in U.S. Bankruptcy Court

Texas bank — administrative agent for first lien lender group in Torqued-Up Energy Services, Inc., along with its affiliates, regarding a voluntary petition for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the Eastern District of Texas

TMT Co., Ltd. and affiliated entities — Chapter 11 bankruptcy protection

Trinity River Resources, LP — bankruptcy issues after the company filed a voluntary petition for reorganization under Chapter 11 in the U.S. Bankruptcy Court

Venoco, Inc. — Chapter 11 petitions in the U.S. Bankruptcy Court for the District of Delaware to restructure their debt obligations and capital structure and its affiliates Denver Parent Corporation, TexCal Energy (LP) LLC, Whittier Pipeline Corporation, TexCal Energy (GP) LLC, Ellwood Pipeline, Inc., and TexCal Energy South Texas, L.P. 

WBH Energy Partners, LLC — debtors’ counsel in their Chapter 11 proceedings





Energy XXI Pursues Deleveraged Balance Sheet via Chapter 11

April 15, 2016

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...

Getting to Know: David Lawton

February 24, 2016
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