Nighthawk Energy and wholly-owned subsidiary Nighthawk Royalties filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, case number 18-10990.
The Company, which engages in the exploration, development, production and sale of hydrocarbons, is represented by Dennis A. Meloro of Greenberg Traurig.
On April 20, 2018, the Company made the following announcement, “[T]he Board of Directors is in discussions with its major stakeholders regarding a possible alternative proposal for restructuring the CBA Loan and a recapitalization of the Company….Whilst there can be no certainty the Company will proceed with the asset sale route, it is likely that any such sale would be effectuated through a series of voluntary Chapter 11 bankruptcy filings by the Company and its US operating subsidiaries and would yield no residual value for shareholders whose interests are subordinated to the claims of creditors and expenses of administration.”
Read more Nighthawk Energy bankruptcy news.
The post Nighthawk Energy Bankruptcy appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.