Ultrapetrol (Bahamas) Limited, along with its 30 affiliates, filed a voluntary petition for reorganization under Chapter 11 in the US Bankruptcy Court for the Southern District of New York on February 6, 2017. The debtor listed its assets in the amount of $462.11 million and liabilities in the amount of $435.82 million. The debtor is represented by Bruce Robert Zirinsky of Zirinsky Law Partners PLLC as legal counsel. The debtor also hired Hughes Hubbard & Reed LLP as its legal counsel, Miller Buckfire & Co., LLC as its financial advisor, Seward & Kissel LLP as special counsel, Pistrelli, Henry Martin y Asociados S.R.L. as independent auditor, Ernst & Young -Paraguay as auditor of debtor's Paraguayan subsidiaries, Prime Clerk LLC as its claims and noticing agent and administrative advisor, and AlixPartners, LLC as its financial advisor.