Energy Partners Gets OK To Tap Cash Collateral

Law360, New York (May 4, 2009, 12:00 AM EDT) -- Oil and natural gas exploration and production company Energy Partners Ltd. has won bankruptcy court approval on several first-day motions — including bids for authorization to pay employee wages and use cash collateral — that the company says will allow it to keep operating normally as it restructures.

Judge Jeff Bohm of the U.S. Bankruptcy Court for the Southern District of Texas signed off on interim orders on Friday giving Energy Partners a green light to pay prepetition salaries and continue benefits, maintain its cash management...
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