Restructuring Fees

6 Months Ended

Jun. 30, 2016

Restructuring and Related Activities [Abstract]

Restructuring Fees

Restructuring Fees

In March 2016, we retained Lazard as our financial advisor and Latham & Watkins LLP as our legal advisor to assist the Company in analyzing and considering financial, transactional and strategic alternatives. We also retained Alvarez & Marsal to assist the Company through this process. In April 2016, the independent directors of our board of directors named current board member David T. Lawrence a Special Liaison of the Independent Directors to work together with the management team of the Company to help with assessing strategic and restructuring alternatives. Andrews Kurth LLP has also been hired as special counsel to the independent directors. Additionally, we are engaged in negotiations with financial advisors for certain holders of the 2017 Convertible Notes and 2022 Notes regarding the restructuring of the notes and in June 2016, we secured an amendment to our existing credit facility with our bank group. The legal and financial advisory costs associated with these restructuring efforts are included in the statement of operations as restructuring fees and totaled $9.4 million and $10.4 million for the three and six months ended June 30, 2016, respectively.