Chaparral Energy's Plan OK'd On Speedy Trip Through Ch. 11

Law360 (October 1, 2020, 3:43 PM EDT) -- Chaparral Energy Inc. took a speedy trip through its second bankruptcy in the past five years as a Delaware judge approved its debt-for-equity Chapter 11 plan Thursday, with the company saying it plans to emerge from its latest bankruptcy as soon as next week.

During a short virtual hearing, U.S. Bankruptcy Judge Mary F. Walrath had words of praise for Chaparral and its stakeholders for moving through the bankruptcy quickly and "seamlessly," and for coming into Thursday's hearing with a fully consensual plan that was supported by creditors who voted on it.

Chaparral attorney Angela M. Libby of Davis Polk &...

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