Green Field Cancels Ch. 11 Auction To Go With Stalking Horse

Law360, Wilmington (March 6, 2014, 8:48 PM EST) -- Bankrupt oil services company Green Field Energy Services Inc. said Thursday that it would go with a Gordon Brothers Group LLC affiliate's stalking-horse bid and sell some equipment in a deal that would give the debtor $50 million up front and the first $17.5 million of any proceeds afterwards.

In a filing before the Delaware bankruptcy court, Green Field said that it hadn't received any qualified bids by the Wednesday afternoon deadline to either replace Gordon Brothers Commercial & Industrial LLC as sales agent or buy...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Green Field Energy Services, Inc.


Case Number

1:13-bk-12783

Court

Delaware

Nature of Suit

Date Filed

October 27, 2013

Law Firms

Companies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.