Quicksilver Resources sells part of Canadian assets
March 08, 2016
523.00 Million CAD
On March 8, 2016, Quicksilver Resources Canada Inc., 0942065 B.C. Ltd. and 0942069 B.C. Ltd. (collectively, "QRCI"), obtained an initial order under the Companies' Creditors Arrangement Act in terms of which FTI Consulting Canada Inc. ("FTI") was appointed monitor. This matter involved the completion of multiple sale transactions involving QRCI’s oil and gas assets and the subsequent implementation of a CCAA Plan of Compromise and Arrangement to facilitate a distribution of remaining proceeds to unsecured creditors.
QRCI is the Alberta-based Canadian subsidiary of Quicksilver Resources Inc., an independent oil and gas company engaged in the acquisition, exploration, development and production of onshore oil and natural gas, primarily from unconventional resources including shales and coal beds in North America, and is based in Fort Worth, Texas.
FTI is an independent global business advisory firm.
McCarthy Tétrault LLP advised FTI with a team led by Sean Collins (Bankruptcy and Restructuring) that included Kevin Wright (Financial Services), Stephan Curran (Financial Services), Walker MacLeod (Bankruptcy and Restructuring), Pantelis Kyriakakis (Bankruptcy and Restructuring), Kristen Haines (Business) and Matthew Bell (Financial Services).