[Context: Black Elk was launched in 2007 with backing from Platinum Partners Value Arbitrage Fund, but faced a number of challenges including a 2012 fire on one of its platforms leading to it filing a Chapter 11.]
Blackhill Partners Completes Black Elk Energy Restructuring
Complex Chapter 11 Includes $1 Billion of Restructured Liabilities
DALLAS, July 27, 2016 /PRNewswire/– Blackhill Partners, an investment bank specializing in complex situations, has completed the reorganization of Black Elk Energy Offshore Operations, LLC, guiding the company through bankruptcy. Blackhill led Black Elk through a complex Chapter 11 proceeding that included more than $1 billion of restructured liabilities and $15 million in structured roll-up debtor-in-possession (DIP) financing.