Forbes Energy Services Ltd. along with its four affiliates filed a voluntary petition for reorganization under Chapter 11 in the US Bankruptcy Court for the Southern District of Texas on January 22, 2017. The debtor listed its assets and liabilities in the range of $100 million to $500 million. The debtor is represented by Kenneth P. Green of Snow Spence Green LLP as its Texas insolvency counsel, Pachulski Stang Ziehl & Jones LLP as its general insolvency counsel, Winstead PC as its corporate and securities counsel, Alvarez & Marsal North America, LLC as its financial advisors and Jefferies LLC as its investment banker.