Government Pushes Court To Toss China Natural Gas Ch. 11

Law360, New York (June 6, 2014, 2:10 PM EDT) -- The federal government’s bankruptcy watchdog on Thursday urged a judge to either throw out China Natural Gas Inc.’s Chapter 11 case or force it to liquidate, saying the natural gas pipeline operator has no chance of reorganizing itself.

U.S. Trustee for the Southern District of New York William K. Harrington said in court papers that despite the company’s statement that it intended to hire Ernst & Young LLP in February to market its assets for a sale, CHNG has no buyer in line. Furthermore, Harrington says...
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