Restructuring Advisory Services for a Bankrupt Energy Company

The Situation

NERA was engaged by a US firm, which had filed for Chapter 11 bankruptcy protection. The firm was rapidly reorganizing its operations, dealing with rejected contractual obligations and embarking on the process of complete financial restructuring. NERA was brought in to provide analytical support, and advise on many aspects of the overall restructuring effort.

NERA's Role

Among other things, NERA's industry experts were tasked with critiquing and providing analytical support for the Plan of Reorganization (POR). As part of this effort, NERA conducted reviews of asset valuations, asset models, and the assumptions used to support many aspects of the POR. NERA also provided analytical support and examined the assumptions underlying the interim operating agreement developed, and approved, to control the company's business activities while operating under Chapter 11 protection. NERA also assisted in dealing with rejected contracts and claims including providing independent valuations in some of the more complex valuation disputes.

The Result

NERA was able to help protect the financial and strategic interests of the client at several critical stages of the bankruptcy process.