August 22, 2018 – The Court hearing the Enduro Resource Partners case approved a settlement agreement between (i) Enduro Operating and (ii) Echo Production, Talus, Twin Montana, Cimarron River Investments, CMW Interests, D2 Resources, Elger Exploration, Plains Production, Solis Energy, The Allar Company, Ken Seligman and W. Glen Street, Jr. (the “Defendants”, and together with Enduro Operating, the “Litigation Parties”) [Docket No. 372]. As previously reported [Docket No. 353], “If Enduro Operating were to be unsuccessful on rehearing and any subsequent appeals, it would be obligated to pay any verdict and, potentially, to pay attorney’s fees in connection with the lawsuit. In addition, the case could continue for another several years, consuming the Debtors’ time and resources and causing potential delay and disruption to the Debtors’ wind down and dissolution process. The Litigation Parties engaged in good-faith negotiations to reach a full and final settlement relating to the Litigation and the release of claims relating thereto. These negotiations have culminated in the entry by the Litigation Parties into the Settlement Agreement, which provides for the mutual release by the Litigation Parties of all claims related to the Litigation and the Dispute upon entry of the Proposed Order, that no party shall be deemed liable on account of the Litigation, and that each party shall bear its own expenses in connection with the Litigation.”
Read more bankruptcy news.
The post Enduro Resource Partners – Court Approves Settlement Agreement, Mutual Release of All Claims appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.