EMH Represents GeoTrace Technologies In Challenging Chapter 7 Filing

2017 | Category: Significant Cases

EMH attorney Joe Bain recently led a team of EMH attorneys in advising GeoTrace Technologies, Inc. (“GeoTrace”),  and its board of directors when the company was faced with a potential free-fall liquidation.

After the lack of support for a Chapter 11 reorganization became apparent, EMH explored and advised GeoTrace on alternative forms of liquidating, including by use of a state-law assignment for the benefit of creditors. In the end, EMH assisted GeoTrace in negotiating a distressed M&A transaction with GeoKinetics Inc. and Silicon Valley Bank, which preserved  GeoTrace’s remaining value and  provided for a liquidation budget that was used to transition GeoTrace to an orderly liquidation through a Chapter 7 bankruptcy case.

Joe Bain was quoted by the Houston Business Journal on a an article discussing the Chapter 7 filing. A copy of the HBJ article can be accessed here.