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SEC Says Breitburn Can Afford Shareholder Payout In Ch. 11

Law360, New York (October 12, 2016, 4:44 PM EDT) -- Equity shareholders trying to band together to fight for their position in Breitburn Energy Partners LP's Chapter 11 bankruptcy have received support from the U.S. Securities and Exchange Commission, which said the company looks able to afford a shareholder payout.

U.S. Bankruptcy Judge Stuart M. Bernstein forced the issue in July, saying he had received numerous letters from shareholders asking to form a committee in the bankruptcy and ordering the debtors and creditors to show why he shouldn't grant it. In a letter dated Oct 7., Alan...
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