Matrix Announces the Successful Sale of Red Eagle Oil, Inc.
RICHMOND, VA – December 13, 2012 – Matrix Capital Markets Group, Inc. announced today the successful sale of substantially all of the assets of Red Eagle Oil, Inc., et al, Debtor-in-Possession (the “Debtor”) in Case No. 11-20857 of the United States Bankruptcy Court for the District of Wyoming (the “Court”) and its affiliates (collectively, the “Companies”). The assets were sold pursuant to a Court Order approving the sale to Brad Hall & Assoc., Inc. under an Order of the Court dated September 12, 2012.
The Companies’ assets sold consist of sixteen (16) fee owned convenience stores that also offer motor fuels, several bulk plants, and transportation equipment. Fifteen (15) of the convenience stores are located throughout Wyoming with the other store being located in Hardin, Montana. Eight (8) of the stores offer Exxon motor fuels with the remaining stores selling unbranded fuels.
Cedric Fortemps, Senior Vice President at Matrix, said “this closing is the culmination of a successful sale process which required a tremendous amount of hard work on the part of the Debtor, the creditors and all of the professionals employed by the various constituents. It was a pleasure to work with all of the individuals involved and the successful result would not have been possible without the Hinze family’s determination to continue to operate the Companies under difficult circumstances.”
Other professionals that worked on the transaction include:
- Brad T. Hunsicker and Stephen R. Winship of Winship & Winship, P.C., counsel to the Debtor;
- Thomas M. Kim of R2 Advisors, LLC, financial advisor to the Debtor;
- James A. Patten of Patten, Peterman, Bekkedahl & Green, P.L.L.C. counsel to Red Eagle Oil, Inc.’s affiliated entities;
- John C. Smiley and Ethan J. Birnberg of Lindquist and Vennum LLP, counsel to the Unsecured Creditors Committee;
- Francis J. Lawall of Pepper Hamilton LLP, counsel to Exxon Mobil Corporation;
- James R. Belcher of Belcher & Boomgaarden, LLP, counsel to Tiger Peg Capital Corp.;
- Steven A. Abelman of Brownstein Hyatt Farber Schreck, LLP, counsel to Pecten Funding Corp.;
- Michael A. LaBazzo of the Law Offices of Michael A. LaBazzo, LLC, counsel to Pinnacle Bank