Akin Gump Advises Trident Exploration Noteholders in Recapitalization
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(Houston) – Akin Gump represented an ad-hoc committee of holders of senior unsecured notes in entering into a recapitalization and financing transaction with Trident Exploration Corp. and other creditors of Trident. The transaction is expected to be implemented via a Plan of Arrangement under the Canada Business Corporations Act. Upon completion, the noteholders will have the option to convert their unsecured notes for up to 71.2% of the new common shares of the reorganized company, along with other options. The transaction is expected to increase liquidity for the company’s operations and allow the company to make necessary capital investments and accelerate operational improvements.
The Akin Gump team included oil and gas partners Chip Cowell, Michael Byrd and Patrick Hurley; financial restructuring partner Chuck Gibbs; and oil and gas counsel Chris Centrich and associate Chase Armbrust. They were supported by tax partner Alison Chen; and oil and gas partner Eric Muñoz, counsel Kate Huggins and associates Randy Santa Ana and Brandon Hauver.
Founded in 1945, Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
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