Louisiana Crane files for bankruptcy protection

A bankruptcy case was filed by Louisiana Crane & Construction, LLC, under Chapter 11 rules on June 27 in the U.S. Bankruptcy Court, Western District of Louisiana.
Douglas Marcantel, chief financial officer, read a statement about the filing: “This decision to file Chapter 11 was driven by the downturn in the oil and gas industry and the negative outcome of some collection litigation with customers. Our objective is to file a plan with the court and to get out Chapter 11 as quickly as possible and to remain a viable company.”
The Eunice-based business is located at 1045 Hwy. 190 West.
The company employed as many as 2,000 people three years ago, Marcantel said. Today, there are about 225 employees, which includes about 90 at the Eunice site, he said.
Besides Eunice, Louisiana Crane has locations in Pleasant, Texas; Monahans, Texas; Marshall, Texas; and Alexandria.
In its filing, the company indicated it has liabilities from $10 million to $50 million. The company estimated its assets as being up to $50,000.
The filing also checked a box that stated its creditors number from 200 to 999.
The petition was signed by Marcantel on June 24.
The case, 16-50876, has been assigned to Judge Robert Summerhays.
The debtor’s attorney is listed as Barry W. Miller of Heller, Draper, Patrick, Horn & Dabney, LLC, of Baton Rouge.
On June 23, Logan Fournerat, managing member, signed a consent and resolution approving the bankruptcy filing.
Equity holders of the company are identified as Fournerat & Toups Farms, LLC, 1620 Bearcat Road, Basile; and Logan Fournerat, also of the Basile address. Fournerat & Toups Farms is listed as having 70 percent membership interest and Logan Fournerat as 30 percent interest in the company.
Among the filings is a list of creditors with the 20 largest unsecured claims totaling $6,064,568.75. The listed creditors also are not insiders.
The creditors are:
— American Express, Dallas, $132,052.14;
— BGR Enterprise, Eunice, $623,433,24;
— Blue Cross & Blue Shield of Louisiana, Baton Rouge, $424,810.29;
— Blue Cross Blue Shield, Dallas, $102,661.94;
— D&R Supply, Eunice, $1,522,967.08;
— Enterprise Fleet Service, Kansas City, Missouri, $1,025,514.91;
— H&E Equipment Services, LLC, Dallas, $131,422.84.
— Holt Cat, Dallas, $239,148.85.
— Hytorc of Texas, Houston, $145,230.61.
— J&B Pipeline Supply Co. Inc., Baytown, Texas, $113,451.05;
— LA Pipeline Rental and Ind. Sup., Sulphur, $112,794.11.
— Lonestar West Enterprises, LLC, Dallas, $106,895;
— Louisiana Machinery-Rents, New Orleans, $204,794.93;
— Nations Fund I Inc., Norwalk, Connecticut, $121,127.38;
— Precision Drilling Services, LLC, West Monroe, $192,720;
— Ritter Forest Products, Nederland, Texas; $258,183.84;
— Steel Supply Inc., Eunice, $344,633.57;
— Tims South Texas, Uvalde, Texas, $121,207.59;
— United Equipment Rental Gulf, Dallas, $446,955.52; and
— Vicki Heflin, PCC, Ward County Courthouse, Monahans, Texas, $126,239.99.
Louisiana Crane has until October to file its plan.
Louisiana Crane’s website said the company was formed in 2002. In 2004, Logan Fournerat purchased 30 percent ownership. Fournerat and Earl Toups next bought the remaining 70 percent of the company, the website states. Fournerat became managing member.
Louisiana Crane’s services include cranes, general oilfield construction, pipeline, plant maintenance, rotating equipment and millwright.