Elk Petroleum's Creditor Valuation Deal Approved In Delaware
Law360, Wilmington (July 25, 2019, 4:20 PM EDT) -- Bankrupt oil and gas driller Elk Petroleum Inc. received court approval Thursday for a settlement deal with creditors and equity holders that avoids their request for a Chapter 11 trustee and addresses valuation concerns by running an asset marketing process.
During a hearing in Wilmington, debtor attorney Gregory M. Wilkes of Norton Rose Fulbright said the settlement resolved the efforts of a committee of preferred equity holders and secured creditor BSP Agency LLC to have a trustee appointed to oversee the Chapter 11 case of Elk Petroleum over concerns about prepetition actions.
The motions had been pending for several weeks, and...
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!