Rockall’s hiring of Vinson & Elkins as counsel hits resistance

Chicago, April 27 – Rockall Energy Holdings, LLC’s official committee of unsecured creditors and the U.S. trustee William T. Neary both objected to the retention of Vinson & Elkins LLP as counsel for the debtor, according to motions filed with the U.S. Bankruptcy Court for the Northern District of Texas.

Citing different reasons, the committee asserted that Vinson & Elkins should have been disqualified from representing Rockall due to “unrelated” work for Goldman Sachs Group, Inc. and Texas Pacific Group, including in other restructurings/Chapter 11 cases.

Goldman Sachs is the term loan lender and term loan agent.

The company has already resolved the objection of the official committee of unsecured creditors.

Rockall asserts, though, that the objection from the U.S. trustee will likely be a contested matter.

The trustee objection is based on whether Vinson & Elkins is suited to be counsel to the debtors under a statutory predicate regarding a conflict of interest.

The matter is ongoing.

The Dallas-based oil exploration and production company filed Chapter 11 bankruptcy on March 9 under case number 22-90000.

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