Eagle Bulk appointed financial advisor Houlihan Lokey

New York Bulk Carriers owner Eagle Bulk appears to have hired as financial advisor Houlihan Lokey, the same re-structuring firm that guided its creditors during Eagle’s Chapter 11 bankruptcy process in 2014. Eagle has retained Houlihan Lokey, the Los Angeles-based restructuring advisor, as it operates under a “forbearance agreement” with its lenders. Houlihan Lokey also worked on the case for the creditors’ side. Group of creditors led by Oaktree Capital Management purchased bank debt from Eagle Bulk’s lenders, effectively allowing them to take control of the bulker owner through a “loan to own” scenario.