Occidental Petroleum sued Sanchez Energy last week in a federal bankruptcy court in Houston, where Sanchez has been undergoing a Chapter 11 reorganization since last August. The lawsuit is tied to a $2.3 billion deal in the Eagle Ford that Sanchez entered with Anadarko, which is now owned by Oxy.
Children’s Pizza Parties & Films: The Latest Players on the Bankruptcy Docket
A Texas-based arcade also known for its pizza and a French multinational corporation that was a foundational backbone to Hollywood’s Golden Age are the latest companies to file for bankruptcy protection in Houston. Natalie Posgate explains the circumstances and reveals the lawyers.
Advice to In-House Counsel: Don’t Shy Away from Bankruptcy as a Strategy
While bankruptcy will result in a period of change, it doesn’t have to be feared. Instead, bankruptcy often may be more appropriately seen as a strategy to obtain a fresh start. This article identifies four strategic options for distressed or insolvent companies.
Bankruptcy Report: Expect More of Them
Lower for longer remains the watchword for producers and their creditors, according to Haynes and Boone’s periodic energy bankruptcy reports. Here’s what’s happened so far this year.