Southcross Ch. 11 Sale Delayed By 'Overwhelming Response'

Law360, Wilmington (June 12, 2019, 9:21 PM EDT) -- Bankrupt natural gas handler Southcross Energy told a Delaware judge Wednesday that it needs to extend its Chapter 11 sale timeline into September because the company has received such an "overwhelming response" to its asset marketing efforts that the additional time is necessary to parse through the anticipated bids.

During a hearing in Wilmington, debtor attorney Steven Z. Szanzer of Davis Polk & Wardwell LLP said the company's proposed bidding procedures had been amended to schedule an auction for Sept. 3 with a sale hearing to follow on Sept. 18, but that the bid deadline will remain July 24.

When U.S....

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!