“Endeavour Can Poll Lenders On Plan To Trim $500M In Debt” ; December 22, 2014
A Delaware bankruptcy judge gave Endeavour International Corp.’s Chapter 11 plan disclosure statement the go-ahead Monday, allowing the oil and gas exploration company to solicit its creditors on a strategy to lighten its debt load by more than a half-billion dollars.
At a hearing in Wilmington, U.S. Bankruptcy Judge Kevin J. Carey remarked on the length of the document, roughly 115 pages, saying that its heft was something he didn’t typically like to see. But he gave the substantial document the thumbs-up after hearing that Endeavour had smoothed out concerns from the official committee of unsecured creditors and others.
The committee is represented by Neil B. Glassman, Scott D. Cousins and Evan T. Miller of Bayard PA and David M. Bennett and Cassandra Sepanik Shoemaker of Thompson & Knight LLP.