October 18, 2016 / 10:56 AM / in a year

Emerald Oil wants extra 120 days to file Ch. 11 bankruptcy plan

Emerald Oil Inc said it will file a plan to exit bankruptcy in the “immediate future” but the energy producer also requested a judge extend the timeframe in which it had the exclusive right to propose a reorganization plan.

Emerald said it needs the added 120 days to prevent rival plans from being proposed so it can work on issues in its sale that will allow the transaction to close.

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

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