CJ Holding Co.’s reorganization plan was confirmed on December 16, 2016, and had become effective by its January 6, 2017 effectiveness notice Dkt. 1157. Later filings document plan implementation, while an August 23, 2018 district court order Dkt. 2492 dismissed an appeal with prejudice; no further material milestone is specified.

CJ Holding Co.’s reorganization plan reached effectiveness after the court entered the confirmation order Dkt. 1057 on December 16, 2016. The notice filed January 6, 2017 Dkt. 1157 reported that the Second Amended Joint Plan of Reorganization, as modified, had become effective.

The July 20, 2016 Chapter 11 filing followed a downturn in the oilfield services business. CFO Mark Cashiola’s first-day declaration Dkt. 20 described C&J Energy Services’ North American completion, production and well-support operations, losses of $872.5 million in 2015 and $428.4 million in the first quarter of 2016, and workforce reductions from nearly 10,000 to approximately 4,977 employees. Despite those reductions, the company needed a balance-sheet restructuring. Cashiola reported support from approximately 83 percent of its lenders for a restructuring agreement that contemplated deleveraging, a $100 million DIP financing facility and a $200 million rights offering backstopped by key lenders. These were elements of the proposed restructuring at filing.

Financing was central to sustaining operations through Chapter 11. Evercore’s September 22, 2016 declaration Dkt. 476 described the debtors as cash-flow negative and reported that outreach to nineteen potential alternative financing sources had not produced an outside lender willing to provide DIP financing. The court’s September 25, 2016 final financing order Dkt. 497 authorized postpetition financing and cash-collateral use and granted adequate protection to prepetition secured parties, resolving the financing request before plan confirmation.

Post-effectiveness filings included a February 17, 2017 amendment to the plan supplement Dkt. 1276. The latest dated disposition is the district court order entered August 23, 2018 Dkt. 2492, dismissing an appeal with prejudice. No further material milestone is specified.

CJ Holding Co.’s reorganization plan was confirmed on December 16, 2016, and had become effective by its January 6, 2017 effectiveness notice Dkt. 1157. Later filings document plan implementation, while an August 23, 2018 district court order Dkt. 2492 dismissed an appeal with prejudice; no further material milestone is specified.

CJ Holding Co.’s reorganization plan reached effectiveness after the court entered the confirmation order Dkt. 1057 on December 16, 2016. The notice filed January 6, 2017 Dkt. 1157 reported that the Second Amended Joint Plan of Reorganization, as modified, had become effective.

The July 20, 2016 Chapter 11 filing followed a downturn in the oilfield services business. CFO Mark Cashiola’s first-day declaration Dkt. 20 described C&J Energy Services’ North American completion, production and well-support operations, losses of $872.5 million in 2015 and $428.4 million in the first quarter of 2016, and workforce reductions from nearly 10,000 to approximately 4,977 employees. Despite those reductions, the company needed a balance-sheet restructuring. Cashiola reported support from approximately 83 percent of its lenders for a restructuring agreement that contemplated deleveraging, a $100 million DIP financing facility and a $200 million rights offering backstopped by key lenders. These were elements of the proposed restructuring at filing.

Financing was central to sustaining operations through Chapter 11. Evercore’s September 22, 2016 declaration Dkt. 476 described the debtors as cash-flow negative and reported that outreach to nineteen potential alternative financing sources had not produced an outside lender willing to provide DIP financing. The court’s September 25, 2016 final financing order Dkt. 497 authorized postpetition financing and cash-collateral use and granted adequate protection to prepetition secured parties, resolving the financing request before plan confirmation.

Post-effectiveness filings included a February 17, 2017 amendment to the plan supplement Dkt. 1276. The latest dated disposition is the district court order entered August 23, 2018 Dkt. 2492, dismissing an appeal with prejudice. No further material milestone is specified.