Bouchard Transportation filed voluntary petitions to restructure under Chapter 11. Kirkland & Ellis and Jackson Walker are acting as Bouchard’s legal counsel, while Portage Point Partners is serving as restructuring advisor and Jefferies is serving as investment banker.
Hornbeck Offshore Services emerged from Chapter 11. As part of its plan of reorganization, Hornbeck also closed on its common stock rights offering, which resulted in a $100 million cash infusion of new equity capital led by the special opportunities funds of Ares Management.
Pursuant to a restructuring support agreement, Hornbeck Offshore Services has the support of secured lenders holding approximately 83% of the company’s aggregate secured indebtedness.
Darrick Martin joined Portage Point Partners to lead the West Coast region. Martin previously served as a managing director in the turnaround and restructuring practice of Alvarez & Marsal.
Portage Point Partners is serving as restructuring advisor and Guggenheim Securities is serving as financial advisor to Hornbeck Offshore Services, which entered into a restructuring support agreement that will be implemented through a voluntary prepackaged Chapter 11 case.
Portage Point Partners has added Jeff Gasbarra, Alyssa Lozynski, Joseph Shannon and Charles Wiltgen to its restructuring practice.
Portage Point Partners, a business advisory and interim management firm, promoted Mark Berger to managing director, Zach Rose to senior vice president and Ryan Mersch to vice president.
Portage Point Partners added Arun Lamba and Max Golembo to support Portage Point’s growing client base and closely follows the hiring of Scott Canna and Ryan Williams.