Case Study: Hornbeck Offshore Services achieves successful Chapter 11 restructuring with Stretto

Hornbeck Offshore Services LLC - Customer Case Study

Hornbeck Offshore Services LLC, a marine transportation supplier, faced severe financial distress due to prolonged industry oversupply and the market collapse triggered by the COVID-19 pandemic. To maintain operations without disruption, the company filed for Chapter 11 and required claims, noticing, and a rights offering service. Their counsel engaged vendor Stretto to provide these specialized corporate restructuring services.

Stretto's team managed the complex claims process and facilitated a $100 million rights offering, taking rigorous measures to ensure regulatory compliance. As a result of this solution, Hornbeck emerged from bankruptcy in 2020 with all general unsecured creditors paid in full. Stretto’s support provided the company with a stronger financial foundation and positioned it for long-term success.

Hornbeck Offshore Services LLC