Crescent Resources Wins Plan Approval

Law360, New York (May 24, 2010, 5:07 PM EDT) -- A bankruptcy court judge on Monday approved Crescent Resources LLC's Chapter 11 reorganization plan, positioning the real estate developer to emerge from court protection in early June.

Judge Craig A. Gargotta of the U.S. Bankruptcy Court for the Western District of Texas found that Crescent Resources' plan provided adequate recovery for all creditors entitled to a claim and met all other standards for approval under the Bankruptcy Code.

“We are very excited about the court’s confirmation of the plan, which effectively marks the conclusion of the...
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