New Chapter 11 Filing - The Engy Group LLC

The Engy Group LLC

• 8/8/17 Recap: Houston-based energy-focused private equity shop has filed for bankruptcy. The pleadings are limited but it's safe to assume that this bankruptcy is a tack-on effect of the prior year+ bloodbath in oil and gas.
• Jurisdiction: SD of Texas (Judge Isgur)
• Company Professionals:
  • Legal: Diamond McCarthy LLP (Kyung Lee)

Updated 8/8/17

New Filing - Northstar Offshore Group

Northstar Offshore Group

• 12/2/16 Recap: The E&P-oriented debtors filed a voluntary case converting an earlier August involuntary filing. The company is tied to the defunct Platinum Partners, which we covered in some detail here and here. 
• Jurisdiction: S.D. of Texas
• Capital Structure: $30mm LOCs (First National Bank of Central Texas) & $80mm 12% '19 second lien private notes (ex-interest of $13.7mm)   
• Company Professionals:
  • Legal: Diamond McCarthy LLP (Kyung Lee, Charles Rubio, Christopher Murphy, Michael Fritz)
  • Restructuring Advisor: CR3 Partners (Donald Martin)
  • Financial Advisor: M1 Energy Capital Management (Richard Bernardy)
  • Investment Banker: Parkman Whaling LLC (Thomas Hensley Jr.)
  • Claims Agent: Prime Clerk (*click on company name for docket)
• Other Parties in Interest:
  • Sponsor: Platinum Partners
    • Legal: Holland & Knight (Robert Jonres, Warren Gluck, Barbra Parlen, Arthur Rosenberg)
  • Official Committee of Unsecured Creditors
    • Legal: DLA Piper LLP (Vincent Slusher, David Avraham, Adam Lanza, Daniel Simon, Andy Zollinger)
    • Financial Advisor: FTI Consulting Inc. (Conor Tully, David Rush, Michael Cordasco, Paul Jordan, James Aharonian, Marili Hellmund-Mora)
  • Creditor: Spartan Offshore Drilling LLC
    • Legal: Vinson & Elkins LLP (Reese O'Connor)
  • DIP Lender: Arena Limited SPV LLC
    • Legal: Andrews Kurth Kenyon LLP (Timothy A. Davidson, Joseph Rovira)
  • First National Bank of Central Texas
    • Legal: Dykema Cox Smith (Deborah Williamson)

Updated 5/18/17