GSE Environmental committee allowed to employ legal, financial adviser

By Kali Hays

New York, July 11 – GSE Environmental, Inc.’s official committee of unsecured creditors obtained court authorization to employ Reed Smith LLP as its legal counsel and Eisneramper LLP as its financial adviser, according to separate July 11 orders with the U.S. Bankruptcy Court for the District of Delaware.

Both hirings are retroactive to May 16.

As previously reported, the committee selected Reed Smith and Eisneramper based on each firm’s extensive experience in bankruptcy related reorganization, liquidation and valuation.

Reed Smith will assist the committee in negotiations with the company and creditors, review and analyze the financial situation of the company and represent the committee at hearings, according to a motion.

Eisneramper will analyze the current and pre-bankruptcy business operations of the company, perform claims analysis, inspection of proposed restructuring programs and provide expert testimony during litigation if required.

Eisneramper employees responsible for the case will be paid an hourly rate between $160 and $590.

GSE, a Houston-based plastics company, filed for bankruptcy on May 4. The Chapter 11 case number is 14-11126.

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