Transmeridian, United Energy Reach Ch. 11 Plan Deal

Law360, New York (July 1, 2009, 12:00 AM EDT) -- A bankruptcy judge approved Transmeridian Exploration Inc.'s disclosure statement for a liquidation plan after the energy company agreed to make changes to the plan as part of an effort to appease objecting creditor United Energy Group Ltd.

Judge Marvin Isgur issued the order on Tuesday in the U.S. Bankruptcy Court for the Southern District of Texas approving the disclosure statement, and allowing the court to proceed toward confirmation of the plan, under which the company plans to sell a significant portion of its oil field holdings...
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