Delta Petroleum Gets Ch. 11 Plan OK'd, New Suitors

Law360, Wilmington (August 15, 2012, 10:10 PM EDT) -- A Delaware bankruptcy judge approved Delta Petroleum Corp.'s Chapter 11 plan Wednesday following a confirmation hearing that began with the company announcing that a pair of suitors had made last-minute overtures it felt bound to entertain.

Delta had weighed bids from potential purchasers and plan partners in an April auction before opting for the joint venture with Laramie Energy II LLC proposed in the reorganization plan.

Yet “in literally the last 24 hours” two of those auction participants had come forward, Delta's attorney Kathryn A. Coleman...
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