Enviva Inc. and its affiliates are seeking approval from the U.S. Bankruptcy Court for the Eastern District of Virginia to appoint Hilco Valuation Services, LLC as machinery, equipment, and real property appraiser, reported TCR.
Hilco will be paid a flat fee of $345,000 consisting in part of a retainer of $172,500 plus normal, customary, and reasonable and documented travel expenses.
Eric W. Kaup, a partner at Hilco Real Estate, LLC, disclosed in a court filing that the firm is a "disinterested person" as the term is defined in Section 101(14) of the Bankruptcy Code.
In March this year, Enviva filed for bankruptcy in Virginia, as it outlined a restructuring strategy to reduce debt by $1 billion (€915 million).
In the petition signed by Glenn T. Nunziata, interim chief executive officer and chief financial officer, Enviva Inc. disclosed $2,893,581,000 in assets and $2,631,263,000 in liabilities.
The Debtors tapped Vinson & Elkins, LLP as general bankruptcy counsel; Kutak Rock, LLP as local counsel; Lazard Freres & Co., LLC as investment banker; Alvarez & Marsal Holdings, LLC as financial advisor; and Kurtzman Carson Consultants, LLC as notice and claims agent.
Enviva seeks to appoint real property appraiser
