A top-notch restructuring group, capable of handling the biggest and the most difficult restructuring from either company side or creditors’ side. 
- Chambers USA, Band 1 Bankruptcy/Restructuring (Nationwide and NY)
Gulfport Energy Emerges From Chapter 11
- Client News
- May 18, 2021
Paul, Weiss advised an ad hoc group of unsecured noteholders of Gulfport Energy Corporation, an independent returns-oriented, gas-weighted, exploration and development company, in the company’s successful restructuring. Gulfport emerged from bankruptcy with a new board of directors; a strengthened balance sheet, with $853 million of total debt, representing more than $1.2 billion of deleveraging through the chapter 11 process; and approximately $135 million of liquidity. As a component of the restructuring, unsecured noteholders will receive, among other securities, up to 96% of the equity of the reorganized company. The company’s plan of reorganization was previously confirmed by the U.S. Bankruptcy Court for the Southern District of Texas on April 28.
The Paul, Weiss team included, among others, restructuring partner Robert Britton; litigation partners William Clareman, Walter Rieman and Kannon Shanmugam; tax partner Robert Holo; corporate partners Robert Zochowski, Kenneth Schneider, John Kennedy and Mark Bergman, and counsel Ari Nishitani, Chaim Theil, Jason Tyler and Philip Heimowitz; executive compensation partner Jean McLoughlin and counsel Nicole Tark, Jacob Glazeski, Reuven Falik and Ron Aizen; real estate partner Salvatore Gogliormella; intellectual property partner Claudine Meredith-Goujon; antitrust counsel Marta Kelly; environmental counsel William O’Brien; and international trade counsel Richard Elliott.