News 18 May. 2012

Curtis Transaction a Finalist for Two ACG New York Champion's Awards

The Chapter 11 Reorganization of North American Petroleum Corporation USA and its affiliates (NAPCUS), where Curtis acted as counsel to the Official Committee of Equity Security Holders, has been nominated for two awards by ACG New York in association with the M&A Advisor. The NAPCUS matter has been selected as a finalist for the Middle Market Deal of the Year ($100 million - $250 million) award and for the Sector Transaction of the Year (Energy) award in the 2nd annual ACG New York Champion's Awards. The winners will be announced at the Awards Gala on June 12, 2012, in New York City.

The NAPCUS matter involved a complex restructuring of a publicly-traded Southwestern natural gas drilling company, with stockholders throughout the United States and Canada. Though rarely formed in United States bankruptcies, through the efforts of Curtis acting for several affected clients, an Official Committee of Equity Security Holders was appointed in the NAPCUS Chapter 11 cases and Curtis was selected to act as its lead counsel. In that capacity, Curtis negotiated for and obtained an equally rare distribution for equity under the Chapter 11 plan. In part due to these efforts, NAPCUS successfully emerged from Chapter 11 on September 30, 2011.

The Curtis team included partners Nancy Delaney and Evan Borenstein, counsel Raymond Hum and associate Peter Buenger.