Americas Podcast: Texas Winter Storm Bankruptcies
Highlighting the Texas winter storm bankruptcies, Seadrill Partners’ amended plan and the Highpoint Resources chapter 11 plan, our Americas Core Credit experts released a podcast last Friday where legal analyst Sean Daly discussed a few of the most prominent distressed debt, high-yield and bankruptcy stories from the previous week.
The Seadrill Partners debtors filed an amended plan of disclosure statement on Thursday, March 18th, out of their March 23rd disclosure statement hearing, which contains new information regarding the estimated amount of claims for each class and projected recoveries under the plan including information not expressly detailed in the previous plan and disclosure statement. For Highpoint Resources, Judge Christopher Sontchi confirmed a prepackaged chapter 11 plan for the company just 5 days after the cases were filed in the US Bankruptcy Court for the District of Delaware. Highpoint Resources’ debtors filed chapter 11 to effectuate a merger under a transaction support agreement with Bonanza Creek Energy. Finally, developments related to last month’s winter storm in Texas continue. Gritty Energy filed for chapter 11 bankruptcy on March 15 and Brazos Electric was appointed with a 5 member committee of unsecured creditors which selected Kramer Levin as counsel. Click through to listen to the full podcast on Spotify, Soundcloud or Apple Podcasts.