Triangle Petroleum

Triangle Petroleum is an independent energy holding company with a strategic focus in the Williston Basin of North Dakota.  Triangle Petroleum commenced its bankruptcy case to consensually restructure approximately $167 million in secured not obligations in accordance with a pre-packaged plan of reorganization, which was confirmed after approximately six weeks.  As a result of Triangle Petroleum’s plan, JP Morgan Securities, LLC obtained 100% of the new common stock of the reorganized entity, and general unsecured claims were left unimpaired. Young Conaway served as co-counsel to the debtor with Paul, Weiss, Rifkind, Wharton & Garrison LLP, and served in a lead capacity in many aspects of the case.