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Simpson Thacher has obtained summary judgment on behalf of Petrohawk Energy Corp., dismissing with prejudice all claims asserted by an Indenture Trustee on behalf of holders of a majority of $275 million in aggregate principal amount of Senior Notes issued by KCS Energy, Inc. The Amended Complaint alleged that Petrohawk's acquisition of KCS triggered a default under various components of a Change of Control provision in the indenture governing the Notes, allegedly entitling the bondholders to have their bonds repurchased by Petrohawk at 101% of their face value. On August 1, 2007, the Delaware Court of Chancery (Strine, V.C.) issued a 31-page opinion granting summary judgment dismissing the action in its entirety. Petrohawk previously had moved to dismiss the initial Complaint, which resulted in plaintiff filing the Amended Complaint and abandoning claims against the present and former directors of Petrohawk and KCS, and all tort and conspiracy claims.

The Simpson Thacher team consists of Joseph M. McLaughlin, George P. Choundas, William Ferullo, Patrick T. Shilling and Agnes Dunogue, and paralegal Marcelo Gonzalez.