O.W. Bunker committee OK to hire Gavin/Solmonese as financial adviser

By Kali Hays

New York, Feb. 20 – O.W. Bunker Holding North America, Inc.’s official committee of unsecured creditors received authorization to hire Gavin/Solmonese LLC as its financial adviser retroactive to Dec. 9, according to a Thursday order from the U.S. Bankruptcy Court for the District of Connecticut.

As previously reported, Gavin/Solmonese will continue to analyze and review O.W. Bunker’s business operations, its historical financial performance and the “assumptions underlying business plans and cash flow projections,” along with evaluating near-term liquidity needs, assisting in the marketing of company assets and assisting the committee in preparing, supporting or opposing any plan.

Advisers of the committee will be paid an hourly rate between $395 and $625, according to the motion.

The committee is also looking to hire Hunton & Williams LLP as its legal counsel.

O.W. Bunker is an independent distributor and reseller of marine fuel and is based in Denmark. Its U.S. subsidiaries filed for bankruptcy on Nov. 13 under Chapter 11 case number 14-51720.

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