Oil Driller Alta Mesa Wins OK For Ch. 11 Liquidation Plan

By Rick Archer (May 27, 2020, 5:26 PM EDT) -- A Texas bankruptcy judge Wednesday approved Chapter 11 liquidation plans for oil and gas company Alta Mesa Resources Inc. and its associates, wrapping up what the parties called a "long, hard-fought case."

U.S. Bankruptcy Judge Marvin Isgur approved the Texas-based company's two Chapter 11 plans during a teleconference hearing in which he was told the proposals had "overwhelming" support from the creditors involved.

"It's been a long, hard-fought case, and the plan is the best of all possible deals under the circumstances," Steven Levin, representing the unsecured creditors committee, said.

Alta Mesa filed for bankruptcy in September with $876 million in...

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