Exco Investors Accused Of Staving Off Its Bankruptcy
Law360 (October 12, 2018, 10:52 PM EDT) -- Two secured creditors of bankrupt petroleum driller Exco Resources Inc. hit a group of fellow secured creditors with an adversary proceeding on Friday, alleging units of Fairfax Financial Holdings Ltd. and Bluescape Group abused their insider status for years to saddle Exco with the onerous loans that led to its collapse.
Gen IV Investment Opportunities LLC and Vega Asset Partners, who collectively own roughly $140 million in secured Exco debt, allege in Friday’s heavily redacted complaint that Fairfax and Bluescape conspired in 2015 to have Exco enter into a terrible refinancing deal that benefited self serving refinancing deal, instead of simply...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!