Forbes Energy Services Ltd.

• 01/22/17 Recap: Texas-based oil field services provider files bankruptcy to effectuate a prepackaged plan of reorganization pursuant to which noteholders will take 100% equity and a cash distribution. 
• Jurisdiction: S.D. of Texas 
• Capital Structure: $90 mm ABL (Regions Bank), $277mm '19 9% senior notes (Wells Fargo)
• Company Professionals:
  • Legal: Pachulski Stang Ziehl & Jones LLP (Richard Pachulski, Ira Kharasch, Maxim Litvak, Joshua Fried) & (local) Snow Pence Green LLP (Phil Snow, Kenneth Green)
  • Financial Advisor: Alvarez & Marsal LLC (Marc Leibman, Gary Barton)
  • Investment Banker: Jefferies Group Inc. (Robert White)
  • Claims Agent: KCC (*click on name above for link to docket)
• Other Parties in Interest:
• Ad Hoc Group of Senior Unsecured Noteholders: Ascribe Capital, Solace Capital Partners LP, Courage Capital Management LLC, Pacific Investment Management Co., Phoenix Investment Advisor LLC
  • Legal: Fried Frank Harris Shriver & Jacobson LLP (Brad Scheler, Matthew Roose) & (local) McKool Smith PC (Hugh Ray, Christopher Johnson)
  • Financial Advisor: FTI Consulting Inc.
• Regions Bank
  • Legal: Norton Rose Fulbright (William Greendyke) & Parker Hudson Rainer & Dobbs LLP (Eric Anderson)
• Wells Fargo
  • Legal: Loeb & Loeb LLP (Bernard R. Given, Walter Curchack, Vadim Rubinstein)

Updated 1/30/17