MDC Energy Hearing Paused For Talks On Ch. 11 Funding
By Vince Sullivan (November 12, 2019, 7:52 PM EST) -- The first-day hearing in the Chapter 11 cases of oil and gas driller MDC Energy LLC and its affiliates will resume Friday after a Delaware judge said Tuesday the debtors and their secured lenders should discuss how the cases will be funded as litigation over control of the bankruptcy looms.
During the hearing in Wilmington, U.S. Bankruptcy Judge Karen B. Owens said that after hearing from representatives for MDC Energy and its secured lenders she believed there was a path forward that would enable the debtors to use their lenders' cash collateral consensually to fund operational expenses during the Chapter 11...
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