Baker Hughes Fights To Keep Pacific Energy Cash

Law360, New York (September 28, 2010, 11:26 AM EDT) -- Baker Hughes Inc. has objected to a plan to liquidate and shutter Pacific Energy Resources Ltd. and its affiliates, arguing that more than $690,000 the oil field services company was paid for work performed under a 2007 contract should not be subject to unsecured creditors' recovery actions.

The money was paid to Baker Hughes within 90 days of the debtors' March 2009 Chapter 11 filing and was for labor, material and services, the company told the U.S. Bankruptcy Court for the District of Delaware on Monday....
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.