Lone Pine Wins Interim Stay In Ch. 15

Law360, Wilmington (September 26, 2013, 9:12 PM EDT) -- A Delaware bankruptcy judge on Thursday granted a provisional stay to Lone Pine Resources Inc., protecting the Calgary-based energy outfit from U.S. creditors and lawsuits while it awaits full Chapter 15 recognition of its Canadian insolvency proceedings.

Lone Pine, which entered bankruptcy protection in Canada on Wednesday under the Companies' Creditors Arrangement Act and received an initial protection order from an Alberta court the same day, appeared in Delaware on Thursday seeking similar relief.

A corresponding order under Chapter 15 would ensure that the debtors' American...
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