Bankrupt Oil Biz Furie Gets Nod For Planned Ch. 11 Sale

Law360, Wilmington, Del. (February 20, 2020, 8:32 PM EST) -- A Delaware bankruptcy judge on Thursday gave oil and gas producer Furie Operating Alaska LLC her nod to move forward with a planned Chapter 11 sale of its ownership interests through a foreclosure transaction, as another potential buyer still negotiates with the debtors.

During a lengthy hearing in Wilmington, U.S. Bankruptcy Judge Laurie Selber Silverstein raised serious concerns about stakeholders not having enough time to review transaction details prior to the proceedings. Court filings related to the transaction have been pouring in since earlier this week.

"This is an entirely new transaction that I have not had time to review," Judge...

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