Bankrupt Ryckman Creek Allowed To Switch To New Buyer

Law360, Wilmington (December 6, 2017, 9:07 PM EST) -- Natural gas storage venture Ryckman Creek Resources LLC won Delaware bankruptcy court approval Wednesday to switch its buyer and Chapter 11 plan sponsor to Sandton Capital Partners LP for a deal that is proposed to pay $6.2 million upfront in cash and a $10 million note going forward.

During a hearing in Wilmington, U.S. Bankruptcy Judge Kevin J. Carey allowed Ryckman Creek to pivot from its previously proposed deal that would have had 31 Midstream Partners LLC buy 80 percent of the debtor’s business through a...
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