Oil Driller Sucking Fund Into 'Death Spiral,' Judge Told

Law360, New York (May 17, 2017, 2:16 PM EDT) -- A fund that lent money to oil and gas driller Camber Energy Inc. only to be sued for converting its debt into Camber stock asked a Texas federal judge on Tuesday to give the fund a way to sell the shares before Camber's "death spiral" whittles the stock price even further.

Camber had sued Discover Growth Fund earlier in May, saying that the offshore lender's conversions were driving Camber toward bankruptcy. Last week U.S. District Judge Sim Lake rejected Camber's request to virtually halt the lender's trading in its shares, saying the facts boiled down to Camber's own "failure to adequately...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!