Magnum Hunter Resources $1.1 billion Chapter 11 restructuring

Overview:

• Magnum Hunter Resources, an oil and gas company, filed for Chapter 11 bankruptcy protection in December 2015 to aid with the restructuring of its consolidated balance sheet through its restructuring plan. 
• Magnum also entered a restructuring support agreement with lenders who held 75% of its funded debt claims. 
• Magnum emerged from bankruptcy in May 2016.
• In January 2017, after emerging from bankruptcy, Magnum changed its name to Blue Ridge Mountain Resources.
• PJT Partners acted as financial adviser to Magnum Hunter.
• Houlihan Lokey acted as financial adviser to an ad hoc group of holders of Magnum's first and second lien debt.
• Centerview Partners acted as financial adviser to an ad hoc group of holders of the Company's first lien debt and senior unsecured notes.

Rani Mehta - Journalist