Pachulski Stang Ziehl & Jones Recognized With American Bankruptcy Institute's 2023 Asset Sale of the Year Award

May 2023

The firm is pleased to announce that it has been honored with the American Bankruptcy Institute’s (ABI) 2023 Asset Sale of the Year Award for its role in the chapter 11 proceedings of LaForta - Gestão e Investimento Sociedade Unipessoal, Lda. The firm worked alongside MACCO Restructuring Group, Jackson Walker LLP, Clifford Chance, Milbank LLP, Maritime Finance Ltd., and ABW Vessel Management, Ltd. to achieve this astounding result.

In this complex case, in the United States Bankruptcy Court, for the Southern District of Texas, PSZJ attorneys Michael Warner and Benjamin Wallen represented the interests of the postpetition backstop lenders. Following the court’s approval of the DIP financing, the firm addressed the sale of substantially all of the debtor’s operating assets, which required appropriate court orders to transport the rig to the Bahamas. Throughout the case, the firm addressed issues involving the offshore rig, international transportation issues, and rig operating and contract issues.

PSZJ is honored to receive this award and congratulates Michael and Ben on their outstanding work.

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