MACCO Restructuring Group wins Sale of the Year awarded by the American Bankruptcy Institute for the successful sale of the La Muralla IV, a purpose-built semi-submersible drilling rig

HOUSTON--(BUSINESS WIRE)--MACCO Restructuring Group, a national, middle-market-focused interim leadership and financial advisory firm, announced that it and other nominees, have been awarded Sale of the Year awarded by the Asset Sale Committee of the prestigious American Bankruptcy Institute (“ABI”). Founded in 1982, the ABI is the nation’s largest association of bankruptcy professionals. It plays a leading role in providing its members, congressional leaders, and the public with non-partisan reporting and analysis of bankruptcy regulations, laws, and trends in addition to hosting conferences and educational forums.

MACCO Managing Director David Weinhoffer, served as Chief Restructuring Officer (“CRO”) in the Complex Chapter 11 case LaForta - Gestão e Investimentos, Sociedade Unipessoal, Lda. (SDTX, Houston Division, Chief Judge David R. Jones). Mr. Weinhoffer, in this complex international case, assumed control of La Muralla IV, a sixth generation, semi-submersible oil & gas drilling rig capable of drilling in 10,000 ft. of water and assured its safety and that of its crew by utilizing his deep knowledge of seafaring, marine operations, oil & gas and bankruptcy. He directed her transit 1,300 NM from Tampico, Mexico, across the Gulf of Mexico during hurricane season, to safe berthing at Freeport, Grand Bahamas where he oversaw her successful sale for $60 million.

Drew McManigle, Founder and CEO of MACCO said, “The successful sale of La Muralla IV is a testament to David’s leadership, maritime experience, and tenacity in overcoming every conceivable operational, nautical, and regulatory obstacle. MACCO is both honored and appreciative to receive this prestigious award and congratulates both David, and the whole MACCO team, he led.

Rebecca Blake Chaikin, Genevieve M. Graham, and Veronica A. Polnick of Jackson Walker, LLP, served as Debtor’s counsel; Jennifer Demarco and Sarah Campbell of Clifford Chance served as special corporate counsel; and Ole’ Aagvaard, Project Manager, of ABW Vessel Management, Ltd. The Backstop Lenders were advised by Mark Shinderman, Casey Fleck, and Brian Kinney of Milbank, LLP; Michael Warner and Benjamin Wallen of Pachulski, Stang, Ziehl & Jones, LLP; and Kristen Bodden of Maritime Finance Ltd.

About MACCO

MACCO Restructuring Group, LLC is a Houston based, national interim leadership and financial restructuring practice, focused on the middle-market to companies with revenues between $30 million up to $1 billion, who find themselves in operational and financial distress. MACCO provides responsive, bespoke advisory and leadership, across a broad and diverse array of industries and business segments. MACCO’s professionals, located across the country, possess domestic and international real world business experience. MACCO’s attributes of independence, high-ethical standards, and our willingness to take accountability, each allow us to act quickly, move confidently and execute precisely to “put out the fire and protect the stakeholders from getting burned.” Find out more at www.macco.group