Oil Firm Fights Ex-CEO's Bid To Move Ch. 11 Cases

Law360, Wilmington (November 18, 2013, 7:15 PM EST) -- Private equity-backed oil firm Goldking Holdings LLC on Monday urged a Delaware bankruptcy judge to reject a bid by its former chief executive to transfer its Chapter 11 cases to another state, saying such a move would benefit neither the company nor its creditors.

Former CEO Leonard C. Tallerine Jr. — who owns a nearly 6 percent stake in the company through an entity called Goldking LT Capital Corp. — wants the case moved to either Texas or Louisiana, but Goldking contends there are no grounds...
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