March 14, 2018 / 11:16 PM / 9 months ago

Breitburn improves recovery for noteholders to push Ch. 11 plan

A lawyer for Breitburn Energy Partners LP said in court papers on Wednesday the oil and gas producer has tweaked its plan to emerge from bankruptcy, which has a confirmation hearing later this month, by improving recoveries for some of its noteholders.

The revisions came after the lawyer, Ray Schrock of Weil Gotshal & Manges LLP, said in court on Monday that Breitburn had reached an agreement with its holdout creditors over its $3 billion bankruptcy exit plan.

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