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Specializing in insolvency and complex commercial matters since 1974

Firm confirms stand-alone Chapter 11 plan for 52 year old energy services company – January 2019

On January 25, 2019, the Honorable Catherine Peek McEwen of the United States Bankruptcy Court for the Middle District of Florida, Tampa Division, entered an order confirming the Chapter 11 plan filed by A & K Energy Services, Inc.  A & K is a 52 year old energy services company based in Dade City, Florida with annual prepetition revenues of approximately $20 million.  Nearly $9 million in claims were filed in A & K’s case.  The Chapter 11 allowed the company to restructure its operations and balance sheet by diversifying the services it provides as well as its customer base, rejecting unfavorable leases and contracts, selling excess vehicles and equipment, restructuring secured debt, and resolving pending litigation with a minority shareholder.  Amy Denton Harris led the firm’s representation of the Debtor.