Business
Wilks Brothers, LLC Successfully Intervenes in the Calfrac Interim Order Process to Protect Stakeholder Rights
Wilks Brothers, LLC Successfully Intervenes in the Calfrac Interim Order Process to Protec...
About this update from Calfrac Well Services Ltd.
[{"type":"text","content":"\n\n\n\nWilks Brothers, LLC Successfully Intervenes in the Calfrac Interim Order Process to Protect Stakeholder Rights\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: TOP; BORDER-BOTTOM:black 1pt solid; TEXT-ALIGN: LEFT; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prngen3{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: TOP; BORDER-BOTTOM:black 0pt; TEXT-ALIGN: LEFT; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prnbcc{\nBORDER-TOP:0pt solid; BORDER-RIGHT:0pt solid; BORDER-COLLAPSE: COLLAPSE; BORDER-BOTTOM:0pt solid; BORDER-LEFT:0pt solid\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCISCO, TX, Aug. 10, 2020\n\n\n\nRevisions to Interim Order protect the procedural and substantive rights of affected stakeholders on the proposed solicitation process and ability to raise issues at the ultimate fairness hearing, should Calfrac proceed with the Initial Management Transaction Stakeholders are reminded of the fully committed Wilks' Superior Alternative Proposal, which provides superior recoveries to all stakeholders, and are encouraged to review its Term Sheet available at www.afaircalfrac.com   Stakeholders may also voice their support for Wilks' Superior Alternative Proposal by contacting Laurel Hill Advisory Group CISCO, TX, Aug. 10, 2020 /CNW/ - Wilks Brothers, LLC (\"Wilks\") acknowledges the August 7, 2020 announcement by Calfrac Well Services Ltd. (\"Calfrac\" or the \"Company\") (TSX: CFW) that Calfrac has obtained an \"Interim Order\" for its proposed management-led recapitalization transaction (the \"Initial Management Transaction\"). Wilks, through court appearances and court filings, succeeded in obtaining material changes to the form of interim order originally sought by Calfrac, for the benefit of all stakeholders, in order to ensure that the terms of the Interim Order, as finally issued by the Court, protect the rights of stakeholders on the process relating to the solicitation of the Initial Management Transaction and ability to raise chal...