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Breitburn Execs Defend Asset Valuations Tied To Ch. 11 Plan

Law360, New York (January 11, 2018, 11:11 PM EST) -- Breitburn Energy Partners LP initiated efforts Thursday to confirm a Chapter 11 plan that shareholders say undervalues its assets by more than $2 billion, as company executives testified that the proposed scheme, which hands the enterprise over to groups of note holders, is the best deal available.

Before the oil and gas company can secure approval from a New York bankruptcy judge and see its way out of Chapter 11, it must first justify asset valuations underpinning a restructuring plan which leaves equity holders without any...
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