ERG Intermediate committee gets OK to hire Pachulski Stang as counsel

By Kali Hays

New York, June 24 – ERG Intermediate Holdings, LLC’s official committee of unsecured creditors obtained authorization from the U.S. Bankruptcy Court for the Northern District of Texas to employ Pachulski Stang Ziehl & Jones LLP as legal counsel and Conway Mackenzie, Inc. as its financial adviser, according to a Wednesday filing.

Both hirings are retroactive to May 12.

As previously reported, Pachulski Stang will assist the committee in its analysis of ERG’s assets, liabilities and general financial state, represent the committee in negotiations and in court as needed, monitor any proposed transactions and evaluate any plan or sale, according to the motion.

Attorneys responsible for the committee’s case will be paid an hourly rate between $305 and $995.

In its role as financial adviser, Conway Mackenzie will assess potential recoveries for unsecured creditors, review financial information provided by ERG, analyze assets for liquidation, negotiate on behalf of the committee and provide any other financial services required, according to a motion.

Conway Mackenzie advisors will be paid an hourly rate between $400 and $795.

ERG is a Houston-based independent oil and gas company that filed for bankruptcy on April 30. The Chapter 11 case number is 15-31858.

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