Triangle Petroleum’s Chapter 11 Plan Confirmation

Paul, Weiss and Young Conaway Stargatt & Taylor LLP represented independent energy holding company Triangle Petroleum Corporation in its successful pre-packaged chapter 11 restructuring plan.

Under Triangle’s plan, which was confirmed by U.S. Bankruptcy Judge Mary F. Walrath in Wilmington, Delaware, secured noteholder J.P. Morgan Securities LLC will receive 100 percent of the equity in the reorganized company, and general unsecured creditors will be paid in full. The company entered chapter 11 bankruptcy in May.

The Paul, Weiss team included bankruptcy partners Kelley Cornish (Picture) and Jacob Adlerstein and counsel Diane Meyers; corporate partner Andrew Foley and counsel Scott Grader; tax partner Scott Sontag; employee benefits partner Andrew Gaines; and litigation partner Stephen Lamb and counsel Daniel Mason.

The Young Conaway Stargatt & Taylor LLP team included Pauline K. Morgan, Andrew L. Magaziner and Shane M. Reil.

Involved fees earner: Jacob Adlerstein – Paul Weiss Rifkind Wharton & Garrison; Kelley Cornish – Paul Weiss Rifkind Wharton & Garrison; Andrew Foley – Paul Weiss Rifkind Wharton & Garrison; Andrew Gaines – Paul Weiss Rifkind Wharton & Garrison; Scott Grader – Paul Weiss Rifkind Wharton & Garrison; Stephen Lamb – Paul Weiss Rifkind Wharton & Garrison; Daniel Mason – Paul Weiss Rifkind Wharton & Garrison; Diane Meyers – Paul Weiss Rifkind Wharton & Garrison; Scott Sontag – Paul Weiss Rifkind Wharton & Garrison; Andrew Magaziner – Young Conaway Stargatt & Taylor, LLP.; Pauline K. Morgan – Young Conaway Stargatt & Taylor, LLP.; Shane Reil – Young Conaway Stargatt & Taylor, LLP.;

Law Firms: Paul Weiss Rifkind Wharton & Garrison; Young Conaway Stargatt & Taylor, LLP.;

Clients: Triangle Petroleum;