Last-Ditch Effort Delays EdgeMarc Ch. 7 Conversion Bid

Law360, Wilmington (November 5, 2019, 9:37 PM EST) -- A Delaware bankruptcy judge on Tuesday held off on deciding whether to convert oil and gas producer EdgeMarc Energy Holdings LLC's Chapter 11 to give major stakeholders one last-ditch effort at a deal that could stave off a Chapter 7 liquidation.

At a hearing in Wilmington, U.S. Bankruptcy Judge John T. Dorsey told EdgeMarc that although it has yet to show him why the bankruptcy shouldn't be converted to a Chapter 7, he is willing to give them another week to work out a deal with key stakeholders to provide a path out of Chapter 11.

EdgeMarc, lender KeyBank NA, and...

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