Samson Resources filed with the U.S. Bankruptcy Court a motion for entry of an order (a) appointing a mediator and (b) granting related relief.
The motion explains, “The Debtors have made efforts to push these chapter 11 cases toward a successful resolution, but it has not been possible to date to reach agreement with the committee and other key creditors given the parties’ opposite views on the fundamental issue of lien validity. With the Debtors’ plan on file and supported by the second lien lenders, and with the understanding that the committee will soon be filing a competing chapter 11 plan, these cases may be headed toward a binary litigated conclusion. Accordingly, and because the parties’ respective positions on the central issue of lien validity are now well developed in the record (as may be further informed by the committee’s plan once it is filed), the Debtors believe that mediation may be useful in attempting to bridge the gap between the parties.”
Court-filed documents continue, “The Debtors will continue to work with all of their key creditor constituents before (and, if necessary, after the hearing on this motion) to select a mediator, who the Debtors suggest be a sitting United States Bankruptcy Judge reasonably acceptable to each of the Mediation Parties….Further, the Debtors will coordinate among all the parties to propose for the Court approval a reasonably acceptable mediation schedule and other proposed protocols that will allow for mediation to be completed before the disclosure statement hearing.”
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