Bonanza Creek Energy

Representation as co-counsel to an ad hoc group of senior noteholders in the chapter 11 cases of Bonanza Creek Energy and its affiliates in the District of Delaware. Over the course of several months, the debtors and the members of the ad hoc group engaged in extensive arm’s length negotiations regarding the terms of a restructuring. The ad hoc group supported the confirmation of a prepackaged plan of reorganization in that provided the debtors with $200 million of fresh capital, a new revolving credit facility, elimination of over $1 billion in funded and other debt obligations, and provided the ad hoc group members a share of 85.5% of Bonanza’s new common equity.