October 2, 2017 / 11:18 PM / in 10 months

Breitburn's unsecured creditors push for sale of Permian assets

Breitburn Energy Partners LP has been in bankruptcy long enough and it is time to clear the way for a sale of its assets in the oil-rich Permian Basin, the company’s unsecured creditors said on Friday, echoing the position long held by public unit holders.

The official committee for unsecured creditors in court papers argued for an order rejecting Breitburn’s bid for a fifth extension to the periods in which it has the sole right to file a restructuring plan and solicit votes for it. The committee said creditors should now be allowed to vote down the company’s two funding plans.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2g4VhvR

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