Turnarounds & Workouts: Successful Restructurings of 2022: Brazos Electric Power Cooperative, Inc.
January 15, 2023
O’Melveny was recognized by Turnarounds & Workouts in its 2022 list of “Successful Restructurings” for its work representing Brazos Electric Power Cooperative, Inc., which filed for bankruptcy after receiving more than US$2.1 billion in power bills from the Electric Reliability Council of Texas Inc. following Winter Storm Uri. The annual list “tells the stories where corporate restructuring professionals worked together in the past year to restructure businesses, continue business operations, save jobs, and pay creditors.” O’Melveny partner Lou Strubeck Jr. served as lead counsel to Texas’s largest and oldest electric transmission cooperative, securing a plan that was confirmed in November 2022 and navigated a myriad of complex political, cooperative governance, and litigation matters.
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