In the wake of Energy XXI's 30 December emergence from Chapter 11, WilmerHale's Bankruptcy and Financial Restructuring Practice Group Co-Chair Phil Anker, Loughlin Management Partners Managing Directors Aaron Kibbey and John Sordillo, and H.J. Gruy and Associates Executive Vice President Robert Rasor joined Debtwire Legal Analyst Richard Goldman for an in-depth discussion of the litigation tactics these advisors employed to protect the interests of, and increase recoveries for, an ad hoc committee of EPL Oil & Gas noteholders. During their conversation, the panel addressed an inter-debtor cash collateral dispute that arose in the early days of the Chapter 11, the committee's efforts to recharacterize, subordinate and disallow almost USD 1bn in intercompany transactions, and proposed best practices when attempting to value oil and gas assets in support of plan confirmation.