Bankruptcy Business Valuation

Wilcox Investment Bankers provided a business valuation of certain assets related to a Chapter 11 bankruptcy matter with InterBank.

InterBank, an Oklahoma City based commercial bank, had foreclosed on an energy services company (which was involved in a Chapter 11 bankruptcy proceeding) that operated nine salt water disposal wells located in the SCOOP/STACK oil and gas region.

TWG_tombstone_InterBank_Capstone BK for website

‍The Challenge

InterBank’s loan had underlying credit support from the U.S. Department of Agriculture, but in order to obtain approval to effect the credit support and receive reimbursement proceeds, InterBank required a liquidation valuation report from a reputable and experienced firm that complied with the USDA’s requirements. As part of the Chapter 11 bankruptcy, the salt water disposal well assets were to be auctioned in a short timeframe and the report deliverable was required prior to auction.

The Solution

InterBank’s council introduced Wilcox Investment Bankers based on our extensive experience working with energy services companies, in particular operators of salt water disposal wells, as well as our experience providing comprehensive and defendable business valuations related to legal matters.

We reviewed the salt water assets and financial and operating history and provided a full USDA compliant report within a short timeframe and prior to the court deadline. InterBank was able to use the report to obtain its guaranteed proceeds to apply toward the outstanding loan.