Endeavour committee granted OK to hire counsel and financial adviser

By Caroline Salls

Pittsburgh, Jan. 20 – Endeavour International Corp.’s official committee of unsecured creditors received court approval to hire Thompson & Knight LLP and Bayard, PA as its legal counsel and Alvarez & Marsal North America, LLC as its financial adviser, according to orders filed Tuesday with the U.S. Bankruptcy Court for the District of Delaware.

The hirings of Thompson and Bayard are retroactive to Dec. 11 and that of Alvarez to Dec. 17.

The committee said Thompson will act as its lead counsel, while Bayard will be co-counsel. Both firms will be responsible for advising the committee in its analysis of Endeavour’s assets and liabilities and any proposed sales, representing the committee regarding any plan negotiations and appearing in court on its behalf whenever necessary.

Attorneys of Thompson will be paid an hourly rate between $280 and $845, and attorneys of Bayard will be paid an hourly rate between $350 and $950, according to the motions.

In its role as financial adviser, Alvarez will review the financial state of Endeavour on behalf of the committee, analyze the company’s business operations, attend meetings with creditors and lenders, provide the committee with valuation analysis and assist its legal advisers in any testimony or court preparations.

Advisers at Alvarez will also be paid an hourly rate between $350 and $950.

Endeavour is a Houston-based oil and gas exploration and production company focused on the North Sea and the United States. The company filed for bankruptcy on Oct. 10 under Chapter 11 case number 14-12308.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.