UPDATED The attorney specializes in private equity financings and debt restructurings in the energy industry, including special and distressed situations.
Report: Borrowing Bases Expected to Slide at Least 20% After Oil Free-Fall
The results contrast with Haynes and Boone’s fall survey, which found the largest share of respondents predicting a 10% decrease during redetermination season.
Airline Bailouts and Bankruptcy – Not So Simple
The government is closing in on a $50 billion infusion of emergency aid to the airline industry in light of the extraordinary decrease in demand for air travel following the onset of COVID-19. While well-intended, the proposed package is insufficient to ward off catastrophic airline failures.
Charlie Beckham Sees ‘No Exit’ – A Lawbook Q&A
Longtime Houston bankruptcy attorney Charlie Beckham at Haynes and Boone lays out the landscape for the avalanche of Chapter 11’s expected in the oil industry thanks to the recent slide in commodity prices.
Chapter 11 for Boy Scouts of America
The Boy Scouts of America filed for bankruptcy overnight in Delaware. The Irving-based nonprofit has reached out to a Chicago law firm to advise in the development of a trust to deal with the legal fallout from lawsuits claiming decades of sexual abuse.
Pier 1 Files for Bankruptcy — in Richmond
The long-anticipated bankruptcy of home decor retailer Pier 1 was filed Monday in Virginia. The company has been buffeted in recent months by the death of its GC, a plan to close down 450 stores and, at one point, a halt in trading. Now it says it’s looking for a buyer. Natalie Posgate has the details.
DBJ: Fort Worth-based Energy Company Files for Chapter 11 Bankruptcy
The Fort Worth oil and gas company, backed by EnCap Investments, cited market pressures in filing for Chapter 11 bankruptcy.
UPDATED: At Least Six Firms in Texas Advise Parties on McDermott Bankruptcy
Kirkland, Jackson Walker, Baker Botts, Bracewell, Weil and Porter Hedges all have a hand in the reorganization, which the oil and gas engineering and construction company hopes will erase more than $4.6 billion in debt.