Ch. 11 Cure Amounts Vex Pisces Creditors

By Samuel Howard (December 11, 2009, 6:12 PM EST) -- Some 20 days after bankrupt oil and gas company Palm Energy Partners LLC and subsidiary Pisces Energy LLC updated a plan to restructure roughly $157 million owed to Macquarie Bank Ltd., creditors have started to protest the proposed cure amounts and the status of their claims.

Oil field contractors and joint operators of oil wells are among the creditors that lodged objections Thursday in the U.S. Bankruptcy Court for the Southern District of Texas, claiming mistreatment under the joint plan between Pisces and its major lender Macquarie.

Island Operating Co. Inc. led the charge, claiming Pisces currently owes the contractor more...

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!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!