E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 1/29/2016 in the Prospect News Distressed Debt Daily.

Sherwin Alumina creditors committee receives approval to hire counsel

By Mark Reccek

Bethlehem, Pa., Jan. 29 – Sherwin Alumina Co. LLC’s official committee of unsecured creditors obtained court approval to retain Andrews Kurth LLP (AK) as counsel, effective to the retention date, according to an order filed Friday with the U.S. Bankruptcy Court for the Southern District of Texas.

Andrews Kurth attorneys will be responsible for reviewing, analyzing and responding to legal documents; preparing the necessary legal documents; consulting and interacting with the committee; formulating and implementing a Chapter 11 plan; investigating the acts, conduct, assets, liabilities and financial conditions of the company; and representing the committee in court proceedings.

Andrews Kurth attorneys will be paid an hourly rate ranging from $360 to $895, and Andrews Kurth paralegals will be paid an hourly rate ranging from $100 to $250.

According to a previous court filing, “AK has the necessary expertise and background to address effectively the legal issues that may arise in the context of these Chapter 11 cases, and the employment and retention of AK is necessary to enable the committee to execute faithfully its responsibilities and duties under the Bankruptcy Code.”

Sherwin, a Gregory, Texas-based alumina producer, filed bankruptcy on Jan. 11. The Chapter 11 case number is 16-20012.


© 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.