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Sabine Oil & Gas $2.9 billion Chapter 11 restructuring

11/8/2016
Chapter 11 - US Bankruptcy Code
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$ 2.9 billion

Completed

11/8/2016

Overview:

  • Sabine Oil & Gas has emerged from its $2.9 billion Chapter 11 bankruptcy restructuring.
  • Sabine submitted its plan for restructuring its debt the preceding July.
  • The company first filed for Chapter 11 protection in July 2015. 
  • Barclays acted as lender.
  • Wells Fargo acted as administrative agent under the first lien credit agreement. 

Kurt Stumpo - Journalist

Jurisdiction:

United States

Deal type:

Chapter 11 - US Bankruptcy Code

Practice area:

Restructuring

Governing law:

United States

Industry sector:

Oil and gas

Firms:
A&O Shearman - United States

Party: Barclays (Lender)

Kirkland & Ellis

Party: Sabine Oil & Gas (Debtor)

Lawyers: James Sprayregen, Ryan Bennett

Linklaters

Party: Wells Fargo Bank (Administrator)

Lawyer: Margot Schonholtz

Ropes & Gray

Party: Official Committee of Unsecured Creditors (Ad hoc creditors committee)

Lawyer: Mark Somerstein

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