April 21, 2016
A Sabine Oil & Gas Corp. attorney told a New York bankruptcy judge Thursday that the the oil and gas producer's 10-month-old Chapter 11 case is costing the company approximately $10 million a month, a significant expense that's expected to continue as Sabine readies its reorganization plan.
April 07, 2016
A New York bankruptcy judge on Thursday denied a bid by unsecured creditors of Sabine Oil & Gas to thwart payments to the debtor's first- and second-lien lenders and their advisers following a combative hearing in which a Wells Fargo attorney accused creditors of engaging in a "litigation stick-up".
April 06, 2016
Unsecured creditors of Sabine Oil & Gas took steps Tuesday to continue fighting for the chance to sue secured lenders and company leaders over a disastrous merger with Forest Oil weeks after a New York bankruptcy judge blocked creditors' attempt to initiate litigation over the deal.
March 24, 2016
A New York bankruptcy judge on Thursday denied a bid by unsecured creditors of Sabine Oil & Gas to bring litigation against the company's secured lenders over its ill-fated merger with Forest Oil that added substantial new debt to the business before it filed for Chapter 11 last year.
March 11, 2016
An attorney representing Sabine Oil & Gas unsecured creditors told a New York bankruptcy judge Friday that a conflict of interest is preventing the company's directors from bringing action against secured lenders over the "disastrous" tie-up with Forest Oil, as parties began wrapping up a lengthy trial over the merger.
March 09, 2016
A bankruptcy judge's ruling that Sabine Oil & Gas Corp. can ditch midstream contracts because they didn't relate to the company's drilling operations will encourage more cash-strapped producers to file for bankruptcy in order to shed unfavorable deals and ratchet up the financial risks for pipeline companies and other midstream firms, experts say.
March 08, 2016
A New York bankruptcy judge said Tuesday that Sabine Oil & Gas Corp. can ditch contracts it inked with natural gas and condensate gathering companies, a development that could have repercussions throughout the midstream oil and gas industry as the drillers they contract with flounder amid low oil prices.
February 08, 2016
A representative for certain Sabine Oil & Gas Corp. noteholders challenged Kirkland & Ellis LLP's impartiality with regard to the firm's role advising an investigation into potential legal claims over the company's ill-fated tie-up with Forest Oil during a mini-trial Monday in New York bankruptcy court.
January 26, 2016
Sabine Oil & Gas Corp. submitted a Chapter 11 plan Tuesday in New York federal court and asked the court for permission to begin soliciting creditors on the gas and oil producer's plan to restructure $2.9 billion in debt.
January 13, 2016
Sabine Oil & Gas Corp. on Wednesday attacked its creditors' attempt to unilaterally bring litigation over the company's 2014 merger with Forest Oil, telling a New York bankruptcy judge that doing so would undermine the company's attempt to get support from financial stakeholders on a restructuring plan.