Triangle Petroleum Makes Case For Ch. 11 Debt-Equity Swap
Law360 (June 12, 2019, 8:04 PM EDT) -- Midstream oil and gas services company Triangle Petroleum urged the Delaware bankruptcy court on Wednesday to sign off on its Chapter 11 debt-for-equity swap that would wipe more than $150 million of secured obligations from its balance sheet two years after its exploration subsidiary went through bankruptcy.
In a memo supporting its Chapter 11 plan and disclosure statement, Triangle Petroleum Corp. said all informal comments of interested parties have been resolved and there is currently no opposition to the plan. A hearing is scheduled for Friday in front of U.S. Bankruptcy Judge Mary F. Walrath to consider confirmation of the plan....
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!