Credit Suisse, Other Lenders Pay $691M For ATP Assets

Law360, New York (May 07, 2013, 10:32 PM ET) -- Bankrupt ATP Oil & Gas Corp. on Tuesday said it will sell oil and gas leases to a group of lenders led by Credit Suisse AG for $691 million, following an auction by the struggling developer.

Much of the purchase price will be taken up by canceled debt, with Credit Suisse and the others shelling out another $45 million in cash to pay off debts ranked senior to their own, according to court documents.

U.S. Bankruptcy Judge Marvin Isgur will review the sale at a Thursday...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers

Required