Source Energy Services Ltd.'s Recapitalization Transaction
Goodmans LLP acted as counsel to Source Energy Services Ltd. and its subsidiaries (“Source” or the “Company”) in connection with the successful completion of its recapitalization transaction pursuant to a corporate plan of arrangement under the Canada Business Corporations Act (the “CBCA”).
Source is a TSX-listed company and is the largest supplier of hydraulic fracturing sand in the Western Canadian sedimentary basin. The recapitalization transaction enabled Source to address its liquidity challenges and near term debt maturities in the midst of acute challenges in the Western Canadian oil and gas industry.
The transaction was completed with strong support from the Company’s noteholders, shareholders and lenders and provides Source with enhanced liquidity and financial flexibility to advance its business objectives and emerge from the current industry downturn as a stronger company.
Expertise
Featured Work
-
Restructuring
Endo International plc completes global restructuring
Goodmans LLP acted as Canadian legal counsel to the Endo Group (or the “Company”) in connection with its restructuring initiatives, transaction matters, negotiated resolutions with Canadian… -
Restructuring
Xplore completes CBCA recapitalization and restructures satellite business through RVO
Goodmans LLP acted as Canadian legal counsel to Xplore Inc. in connection with its recapitalization, restructuring, financing, regulatory, governance and business initiatives, including its review of… -
Restructuring
Tacora Resources Inc.’s CCAA restructuring
Goodmans LLP acted as counsel to Cargill, Incorporated and Cargill International Trading Pte Ltd. (collectively “Cargill”), in connection with the restructuring proceedings of Tacora Resources Inc… -
Restructuring
WeWork’s restructuring proceedings
Goodmans LLP acted as Canadian legal counsel to WeWork Inc. in connection with its restructuring initiatives, the Canadian Part IV CCAA proceedings, and issues affecting Canadian stakeholders… -
Restructuring
Comark Group’s restructuring proceedings
Goodmans LLP is counsel for Alvarez & Marsal Canada Inc. in its capacity as court-appointed monitor in the recognition proceedings of Comark Group under the Companies’ Creditors Arrangement Act… -
Restructuring
Contract Pharmaceuticals CCAA proceedings and sale to Aterian Investment Partners
Goodmans LLP acted as counsel to Contract Pharmaceuticals Limited and its affiliates in connection with their CCAA proceedings and other restructuring…