Rockdale Marcellus, LLC

The firm represented the creditors' committee in the chapter 11 bankruptcy of Rockdale Marcellus. The debtor filed for bankruptcy with a prepetition marketing process to sell substantially all of its assets for approximately $50,000,000—substantially less than the 1st lien debt—leaving the 2nd lien debt and general unsecured debt out of the money. During the case, the debtors and the committee worked together to market the assets to three potential bidders. The firm got the bidders to not only increase their purchase price substantially, but also to assume the trade debt, giving the unsecured trade vendors a 100% recovery and a release of preference liability. The judge described the firms’ results as “stellar,” “fantastic,” and “excellent.” The firm’s outstanding work in this case was recognized by the Global M&A Network’s 2022 Turnaround Atlas Awards as a Mid-Market “M&A Deal of the Year.”

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