December is proving to be a busy month for Big Law creditors.

Seven bankruptcies have left eight Am Law 200 firms awaiting payment on nearly $1.14 million in legal fees, only a few days after a Chapter 11 filing by Houston-based Cobalt International Energy Inc. created a half-dozen law firm creditors, the latter the latest energy company to go bust and leave Big Law in the lurch.

Akin Gump Strauss Hauer & Feld, Skadden, Arps, Slate, Meagher & Flom, Procopio and Squire Patton Boggs are owed over $500,000 after three companies file for bankruptcy this month.

Aero-X Golf Inc., a controversial golf ball company better known as Polara Golf, filed for bankruptcy protection in Dec. 15 in Alexandria, Virginia. The debtor, based in nearby Merrifield, listed less than $1 million in assets against more than $3 million in liabilities in its Chapter 11 petition, which notes that Polara owes $400,000 to San Diego-based Am Law 200 firm Procopio; $21,061.62 to Newport Beach, California-based MLG Automotive Law; and $18,279.66 to San Diego's Bellatrix.

Polara made its debut in the 1970s, creating dimpled golf balls that the company claimed would correct the slice on a golfer's drive by 50 percent. But the U.S. Golf Association refused to approve the use of the product in tournaments, prompting the company to sue the body. The USGA agreed to a settlement in 1985 that removed the golf ball from the market.

But in 2009, Aero-X acquired the rights to the Polara design and reintroduced the newly reengineered golf ball to the market a year later. The company's current bankruptcy filing stems from a dispute with its former CEO, David Felker, who is owed nearly $1.3 million, according to its Chapter 11 petition by Aero-X.

Court records show that Offit Kurman has received a $30,000 retainer from Aero-X to represent it in bankruptcy court. Lawyers from the firm are billing the debtor between $250 and $525 an hour for their services, with lead partner Stephen Metz in Bethesda, Maryland, billing $440 per hour for his work. Trademark records show that Procopio, one of Aero-X's largest unsecured creditors, has handled intellectual property work for the company.

In Delaware, Rentech Inc., a Los Angeles-based owner and operator of wood fiber processing and wood pellet production businesses, filed for Chapter 11 on Dec. 19 as part of a plan to unload its North American assets. Among Rentech's 30 largest unsecured creditors are Akin Gump Strauss Hauer & Feld, which is owed $100,000, and Skadden, Arps, Slate, Meagher & Flom, a firm that Rentech owes another $16,759. (Rentech's general counsel is former Skadden banking and finance associate Nicole Sykes Powe.)

Latham & Watkins and Delaware's Young Conaway Stargatt & Taylor are representing Rentech in bankruptcy. Neither firm has yet filed billing statements with the court. Rentech, whose facilities have been plagued with operational problems, said in a statement that it is planning an orderly wind-down of its operations in Chapter 11. The company has listed assets and liabilities of between $10 million and $50 million.

On Dec. 11, Houston-based fashion jewelry chain Charming Charlie Holdings Inc. became the latest retailer this year to take a dip into Chapter 11 this year, filing for bankruptcy in Delaware and announcing the closure of 100 stores. Charming Charlie, which secured $20 million in debtor-in-possession financing to help continue its operations, listed among its 50 largest unsecured creditors a $407,966 payment owed to Locke Lord.

Kirkland & Ellis, a firm that has grabbed key roles on several high-profile retail bankruptcies in 2017, has teamed up with Klehr Harrison Harvey Branzburg to advise Charming Charlie in Chapter 11. Court filings show that Kirkland partners and of counsel are billing the debtor between $575 and $1,795 for their services, while the firm itself has received more than $1.15 million in advance retainers for its work in the case. Klehr Harrison, whose partners and counsel are billing between $300 and $700 per hour, was paid a little more than $52,000 to serve as Delaware co-counsel to Charming Charlie.

Across the country, Redwood City, California-based medical device maker Dextera Surgical Inc. and Seattle-based biotechnology company PhaseRx also filed for bankruptcy on Dec. 11 in Delaware. PhaseRx is seeking a buyer just 19 months after raising $18.5 million through an initial public offering, while Dextera plans to sell itself for $17.3 million to Aesculap Inc., an affiliate of B. Braun Medical Inc.

According to a list of Dextera's 20 largest unsecured creditors, the company owes $60,264.61 to Cooley; $45,259.76 to the Alameda, California-based Quine IP Law Group; and $22,412.05 to California's Vista IP Law Group. Cooley and Saul Ewing Arnstein & Lehr—the latter a firm formed earlier this year through a merger—are representing Dextera in Chapter 11. Neither firm has yet filed billing statements with the bankruptcy court.

PhaseRx, which lists assets of $4.1 million against liabilities of $5.6 million, is being represented by Polinselli in bankruptcy. Court records show the firm has been paid two separate retainers totaling $100,000 for its restructuring services. The largest of PhaseRx's top 20 unsecured creditors is Wilson Sonsini Goodrich & Rosati, which is listed as being owed $106,458.78.

Pleasanton, California-based ET Solar Inc. filed for bankruptcy in Oakland on Dec. 4. The company, a U.S. subsidiary of a Chinese photovoltaic module maker, lists among its top 20 unsecured creditors a $23,733.17 debt for legal fees owed to DLA Piper. Bay Area firm Binder & Malter has received a $75,000 retainer from ET Solar to represent it in Chapter 11.

And finally, on Dec. 21, Houston-based offshore oil and gas exploration company Hyperdynamics Corp. sought Chapter 7 protection in its home city in the aftermath of a failed sale to Hong Kong-based investment firm China LNG Corp.

Houston-based Porter Hedges is handling the proposed liquidation of Hyperdynamics, which focuses on exploring offshore drilling near the Republic of Guinea in West Africa. Court filings show that the debtor owes $23,675.82 to New York-based CKR Law; $23,260.84 to Squire Patton Boggs; and $21,143.75 to Dallas-based boutique McGowen & Fowler.

According to a news release, Squire Patton Boggs served as Hyperdynamics' legal adviser on its admission to trade on the OTCQX marketplace in 2015. Hyperdynamics, however, has had a rough ride in 2017. The company completed its drilling of the Fatala-1 well offshore from Guinea, but it ended up dry. Believing that more black gold was buried in the seabed, the company asked Guinea's government for a two-year appraisal period.

As recently as November, things were still looking up for Hyperdynamics. On Nov. 3, it entered into an agreement to sell 53 percent of its shares to China LNG for $6 million. But on Dec. 7 Guinea's government declined to approve the two-year appraisal sought by Hyperdynamics. Four days later, its deal with China LNG fell through.