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After a contested “cram down” plan confirmation hearing, McKool Smith helped to obtain confirmation of a Chapter 11 Plan of Reorganization for HII Technologies, Inc. (“HII”) (OTCBB: HIITQ) and its subsidiaries on Friday, April 15, 2016. 

The U.S. Bankruptcy Court for the Southern District of Texas approved the restructuring that allows HII to emerge as a non-public oilfield service company owned by its former secured and unsecured creditors.  The reorganized HII will maintain oilfield service operations and assets without any legacy debt.  The creditors will also receive distributions from a Litigation Trust.  The Litigation Trust is being funded by former secured creditors of HII.  Net Litigation Trust recoveries will pay 45 percent to unsecured creditors and 55 percent to secured lenders under the Debtor-in-possession lending facility. 

HII and its affiliates were represented by McKool Smith attorneys Chris Johnson and Ben Hugon, along with securities counsel Greg Carney of Indeglia and Carney, LLP.

With more than 180 trial lawyers across offices in Austin, Dallas, Houston, Los Angeles, Marshall, New York, Silicon Valley, and Washington, D.C., McKool Smith has established a reputation as one of America’s leading trial firms. Since 2006, the firm has secured nine nine-figure jury verdicts, and ten eight-figure jury verdicts. The firm has also won more VerdictSearch and The National Law Journal "Top 100 Verdicts" over the last eight years than any other law firm in the country. Courtroom successes like these have earned McKool Smith critical acclaim and helped the firm become what The Wall Street Journal describes as “one of the biggest law firm success stories of the past decade.” McKool Smith represents clients in complex commercial litigation, intellectual property, bankruptcy, and white collar defense matters.

For additional information, please contact Michael R. Coston at 212-402-9450 or mcoston@mckoolsmith.com.

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