CARBO CERAMICS: Committee Hires AlixPartners as Valuation Expert

Subscribe or sign up for a free trial.

The official committee of unsecured creditors appointed in the Chapter 11 cases of CARBO Ceramics Inc. and its affiliates seeks approval from the U.S. Bankruptcy Court for the Southern District of Texas to retain AlixPartners, LLP as its intellectual property valuation expert.

The team lead for this engagement is AlixPartners’ managing director, Richard Lee.

The Committee requires AlixPartners to:

— estimate the value of the Debtors’ intellectual property, including patents, patent applications, trademarks, domain names, developed software, customer contracts, and any other identified intellectual property;

— development of valuation models pertinent to the identified intellectual property, including gathering market and industry information required to support various assumptions;

— evaluate any proposed sale process of the Debtors’ intellectual property and related bids and participate in any meetings with bidders or auction, as required;

— assist in the review of the Debtors’ plan of reorganization and disclosure statement;

— review and evaluate court motions filed or to be filed by the Debtors or any other parties-in-interest, as appropriate;

— render expert testimony and litigation support services, including preparation of expert opinion documents and e-discovery services, as requested from time to time by the Committee and its counsel, regarding any of the matters to which AlixPartners is providing services;

— attend Committee meetings and court hearings as may be required in the role of advisors to the Committee;

— assist with such other matters as may be requested that fall within AlixPartners’ expertise and that are mutally agreeable.

AlixPartners’ current standard hourly rates for 2020 are:

Managing Director $1,000 – $1,195
Director $800 – $950
Senior Vice President $645 – $735
Vice President $470 – $630
Consultant $175 – $465
Paraprofessional $295 – $315

Mr. Lee disclosed in court filings that the firm is a “disinterested person” within the meaning of Section 101(14) of the Bankruptcy Code.

The firm can be reached through:

Richard Lee
AlixPartners, LLP
909 Third Avenue, Floor 30
New York, NY 10022
Telephone: (212) 490-2500
Facsimile: (212) 490-1344

About CARBO Ceramics

CARBO Ceramics Inc. is a global technology company providing products and services to the oil and gas, industrial, and environmental markets. CARBO offers oilfield ceramic technology products, base ceramic proppant, and frac sand proppant for use in the hydraulic fracturing of oil and natural gas wells.

Asset Guard Products Inc., a subsidiary of CARBO, offers products intended to protect operators’ assets, minimize environmental risks, and lower lease operating expenses through spill prevention, containment, and countermeasure systems for the oil and gas industry.

StrataGen, Inc., another subsidiary, offers fracture consulting and data services and provides a suite of stimulation software solutions used for designing fracture treatments and for on-site real-time analysis to assist E&P companies in the efficient completion of wells and enhancement of oil and natural gas production.

CARBO Ceramics Inc. and its subsidiaries sought protection under Chapter 11 of the Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 20-31973) on March 29, 2020. At the time of the filing, the Debtors were estimated to have assets of between $100 million and $500 million and liabilities of the same range.

Judge Marvin Isgur oversees the cases.

Debtors tapped Vinson & Elkins LLP as bankruptcy counsel; Okin Adams LLP as special counsel; Perella Weinberg Partners L.P. and Tudor Pickering, Holt & Co. as investment banker; FTI Consulting, Inc. as financial advisor; Ernst & Young LLP, KPMG LLP, and Weaver and Tidwell L.L.P. as accountants and tax advisors. Prime Clerk, the claims agent, maintains this website

The Office of the U.S. Trustee appointed a committee of unsecured creditors on April 14, 2020. The committee is represented by Foley & Lardner LLP. GlassRatner Advisory & Capital Group, LLC is the committee’s financial advisor.

Leave a Reply

Your email address will not be published. Required fields are marked *