MACCO Restructuring Group was awarded the Sale of the Year by the asset sale committee of the American Bankruptcy Institute for its work on the Chapter 11 bankruptcy case of LaForta – Gestão e Investimentos, Sociedade Unipessoal, Lda., which was filed in the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division.
David Weinhoffer, managing director of MACCO Restructuring Group Group, served as chief restructuring officer in the case and assumed control of La Muralla IV, a sixth generation, semi-submersible oil and gas drilling rig capable of drilling in 10,000 feet of water. Weinhoffer assured its safety and that of its crew by utilizing his knowledge of seafaring, marine operations, oil and gas and bankruptcy. He directed the rig’s transit 1,300 nautical miles from Tampico, Mexico, across the Gulf of Mexico during hurricane season to safe berthing at Freeport in the Bahamas, where he oversaw the rig’s successful sale for $60 million.
“The successful sale of La Muralla IV is a testament to David’s leadership, maritime experience and tenacity in overcoming every conceivable operational, nautical and regulatory obstacle,” Drew McManigle, founder and CEO of MACCO, said. “MACCO is both honored and appreciative to receive this prestigious award and congratulates both David, and the whole MACCO team, he led.”
Rebecca Blake Chaikin, Genevieve M. Graham and Veronica A. Polnick of Jackson Walker served as debtor’s counsel in this case, while Jennifer Demarco and Sarah Campbell of Clifford Chance served as special corporate counsel, and Ole’ Aagvaard served as project manager of ABW Vessel Management. The backstop lenders were advised by Mark Shinderman, Casey Fleck and Brian Kinney of Milbank; Michael Warner and Benjamin Wallen of Pachulski, Stang, Ziehl & Jones; and Kristen Bodden of Maritime Finance.
