September 6, 2019 / 12:24 AM / 3 months ago

Lenders poised to take over bankrupt offshore energy producer Furie, says creditor

An unsecured creditor has objected to Furie Operating Alaska LLC’s motion for an order approving its sales procedures, arguing the procedures could lead to a takeover by the bankrupt energy producer’s lenders.

Rig contractor Shelf Drilling Offshore Resources Ltd II in a filing in U.S. Bankruptcy Court in Delaware Thursday said the motion, along with Furie’s motion for a debtor-in-possession loan, threatens to keep creditors other than Furie’s lenders from getting “even the tiniest fraction of recovery” in the oil and gas producer’s Chapter 11 bankruptcy.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2m1x4wm

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below