Quiksilver committee may hire counsel, co-counsel, financial adviser

By Mark Reccek

Bethlehem, Pa., Nov. 13 – Quiksilver, Inc.’s official committee of unsecured creditors secured court approval to retain Cooley LLP as lead counsel, retroactive to Sept. 21; Bayard P.A. as co-counsel, retroactive to Sept. 22 through Sept. 28; and Province, Inc. as financial adviser, retroactive to Sept. 22, according to orders filed Friday with the U.S. Bankruptcy Court for the District of Delaware.

As previously reported, Cooley and Bayard attorneys will be responsible for reviewing financial and operational information; analyzing and negotiating the budget; assisting in reorganizing efforts; reviewing the company business plan; providing legal advice with respect to the Chapter 11 cases; drafting the necessary legal documents; and investigating the acts, conduct, assets, liabilities and financial condition of the company.

Province representatives will be responsible for analyzing the company’s business, analyzing the restructuring plan, assets and liabilities, and overall financial condition; monitoring the financing and sale process; reviewing the financial reports; and participating in hearings.

Cooley paralegals and attorneys will be paid an hourly rate between $210 and $1,050 and Bayard paralegals and attorneys an hourly rate between $295 and $450.

Also, Province representatives will be paid an hourly rate between $90 and $670.

Quiksilver, an outdoor sports lifestyle company based in Huntington Beach, Calif., filed for bankruptcy on Sept. 9 in the U.S. Bankruptcy Court for the District of Delaware. The Chapter 11 case number is 15-11880.

© 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.