Bennu Titan Trustee Wants Parent Co. Ch. 7 Case In Del.

Law360, Wilmington (January 9, 2017, 7:52 PM EST) -- The court-appointed overseer of the Chapter 11 case of oil platform owner Bennu Titan asked a Delaware bankruptcy judge Friday to transfer the Chapter 7 case of its parent company to Delaware because Bennu Titan’s case was filed first.

In a motion, Bennu Titan trustee Gerald Schiff said that the company was forced into bankruptcy by its sole creditor, Beal Bank, three months before its parent company, Bennu Oil & Gas, voluntarily filed Chapter 7 petitions in Houston bankruptcy court along with two other affiliates. The...
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