Case Study

Fiduciary Services

Montco Oilfield Contractors Liquidating Trust

THE FIRE

A Louisiana Oilfield Contractor utilized the services of hundreds of vendors and subcontractors throughout the Gulf for an array of oil and gas offshore projects, including platform construction, installation, modification, repair and decommissioning.

Due, in part, to the offshore E&P industry downturn as well as specific difficulties the company filed its Chapter 11 Case with the intent to liquidate its assets and effect the orderly wind-down of its business.

THE RESCUE

As Liquidating Trustee, received, managed, invested, supervised, and protected the liquidating trust assets.

Paid all taxes or other obligations incurred by the liquidating trust.

Investigated, prosecuted, compromised, and settled, in accordance with the specific terms of the Liquidating Trust Agreement, numerous claim objections, preference recoveries and other litigation vested in the Liquidating Trust.

THE RESULT

Case is ongoing – result in progress.