The past couple of years have been tumultuous for the energy sector. From suppliers and service providers to distributors and retailers and all other parts of the energy supply chain, increased competition, weakened domestic and international economies, the availability of alternative energy sources, and increased regulation have pummeled companies in the energy market. There have been dozens of bankruptcy filings and restructurings, including by major companies such as Arch Coal, Energy Future Holdings (TXU), Edison Mission Energy, Patriot Coal, Samson Resources, Magnum Hunter Resources, Sabine Oil & Gas, Pacific Exploration & Production and Quicksilver Resources. In 2015 alone, there were approximately 40 Chapter 11 bankruptcy filings by oil and gas producers, involving approximately $18 billion of secured and unsecured debt. There does not appear to be an end in sight for this market’s downturn.

Seward & Kissel attorneys are involved in a number of these restructurings – both in and out of court. To more effectively serve the legal needs of the energy finance sector during these difficult times, the Firm has formed an Energy Finance Restructuring Team, a highly focused and specialized cross-disciplinary team dedicated to energy sector bankruptcies and restructurings.

Composed of attorneys from our Global Institutional Finance & Restructuring, Bankruptcy, Litigation and Transportation Finance practice groups, the team is advising our agent bank and trustee bank clients, as well as lenders and bondholders, with respect to navigating the difficult issues presented by this downturn.

The Energy Finance Restructuring Team is comprised of Kalyan (“Kal”) Das, Andrew Silverstein, Jeffrey Silverstein, Gregg Bateman and Daphne Coelho-Adam from the Global Institutional Finance & Restructuring Group; John Ashmead, Ronald Cohen, Robert Gayda and Arlene Alves from the Bankruptcy Group; Dale Christensen, Mark Kotwick, and Ross Hooper from the Litigation Group; and Lawrence Rutkowski, John Imhof Jr. and Robert Lustrin from the Transportation Finance Group.

If you would like to learn more about Seward & Kissel’s Energy Finance Restructuring Team or discuss a particular matter, please contact one of the above-named team members.