TXCO Ch. 11 Plan Gets Verbal Approval

Law360, New York (January 26, 2010, 6:57 PM EST) -- The judge overseeing TXCO Resources Inc.'s Chapter 11 proceedings approved the oil company's reorganization plan Tuesday, an attorney for TXCO said, setting the stage for the sale of substantially all TXCO's assets to Anadarko Petroleum Corp. and Newfield Exploration Co. to close in the second week of February.

Judge Ronald B. King of the U.S. Bankruptcy Court for the Western District of Texas verbally approved the plan and is expected to sign an order confirming it in the near future, debtor counsel Deborah Williamson told Law360....
To view the full article, register now.