US Energy Unit's Ch. 11 Plan Includes New UK Wells

Law360, New York (April 20, 2009, 12:00 AM EDT) -- U.S. Energy Systems Inc. subsidiary GBGH LLC has filed the disclosure statement for its second amended plan of reorganization, laying out a plan to drill new wells this year in U.K. gas fields in order to monetize its natural gas assets.

In the disclosure statement filed in the U.S. Bankruptcy Court for the Southern District of New York Monday, GBGH said confirmation of its second amended plan of reorganization would assuage any concerns about its business model by ensuring that U.K. subsidiaries continue to have access...
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