Quadros, Migl & Crosby (“QMC”) was retained as legal counsel to assist with the Chapter 11 bankruptcy filings of its clients Eco-Stim Energy Solutions, Inc. and Eco-Stim, Inc. (“Eco-Stim”), which were filed on April 16, 2020 in the Southern District of Texas.
Eco-Stim is a Houston-based oilfield services company that historically offered well stimulation, coiled tubing and field management services to the upstream oil and gas industry. While Eco-Stim attempted to complete an out-of-court restructuring, Eco-Stim concluded, after consultation with its advisors (including QMC), that it should undertake an orderly liquidation of its businesses in Chapter 11 proceedings in order to continue to maximize value for its creditors. To this end, Eco-Stim plans on filing a plan of liquidation with the Bankruptcy Court within the next week—which will establish a liquidating trust to manage and liquidate Eco-Stim’s remaining assets and pay creditors.
QMC’s bankruptcy and restructuring practice focuses on representing corporate debtors, unsecured creditors’ committees and creditors in complex Chapter 11 cases as well as corporate debtors and creditors in Chapter 7 cases in a wide array of industries in all jurisdictions across Texas and Louisiana. During these incredibly difficult times, QMC anticipates a growing need for legal services in the bankruptcy arena, and QMC stands ready to assist clients whether they be creditors or prospective corporate debtors.