Sabine Bankruptcy Plan Creates Beaucoup Unhappy Campers-Trial Getting Underway!
- Bankrupt Sabine Oil and Gas (OTCPK:SOGCQ) begins a week-long trial on a $3B restructuring plan that has caused stiff resistance from its creditors and eluded compromise for nearly a year.
- Sabine's restructuring plan calls for top-ranking lenders to walk away with ~93% of the reorganized business; if approved, the restructuring proposal would wipe out more than $2.5B in debt.
- Unsecured creditors, who say they are owed as much as $1.4B and have pushed for a sale of the company, are scheduled to recover less than $0.02 on the dollar, sparking numerous objections and appeals.
Views: 479
Replies to This Discussion
-
Permalink Reply by Checkmateking on -
Which is why you don't want to be an unsecured creditor lol, that's the risk, a 0% return.
Support GoHaynesvilleShale.com
Top Content
Blog Posts
The Lithium Connection to Shale Drilling
Shale drilling and lithium extraction are seemingly distinct activities, but there is a growing connection between the two as the world moves towards cleaner energy solutions. While shale drilling primarily targets…
ContinuePosted by Keith Mauck (Site Publisher) on November 20, 2024 at 12:40
Not a member? Get our email.
Groups
-
Natchitoches Parish
400 members
-
Franklin County, Texas
9 members
-
Cass County, TX
120 members
-
Rusk County
97 members
-
Livingston Parish, LA
34 members
-
San Augustine, TX
386 members
-
Miller County, Arkansas
27 members
-
Sabine Parish, LA
455 members
-
South Caddo Parish Group
440 members
-
Bienville Parish, LA
244 members
© 2025 Created by Keith Mauck (Site Publisher).
Powered by
