February 12, 2019 / 12:41 PM / 6 days ago

Gas producer Arsenal and bankruptcy watchdog battle over Ch. 11 plan

Bankrupt natural gas producer Arsenal Energy Holdings LLC on Monday argued for an order approving its prepackaged reorganization plan over objections by the U.S. trustee, which questions whether the proposal is feasible.

Arsenal in a filing in U.S. Bankruptcy Court in Delaware said the objection by the government’s bankruptcy watchdog is “wholly without merit,” adding the plan has overwhelming support from the company’s stakeholders.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2GlYINl

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