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Sable Natural Resources Chapter 11 Petition Filed

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Sable Natural Resources (f/k/a NYTEX Energy Holdings) filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Northern District of Texas, case number 16-34422.

The Company, which acquires, develops and produces oil and natural gas reserves from wells in carbonate reservoir, is represented by Joyce Lindauer of Joyce W. Lindauer Attorney, PLLC. Subsidiary Sable Operating filed a Chapter 11 petition on August 28, 2015 and emerged from that bankruptcy on November 1, 2016.

According to Sable Natural Resources petition, “Sable Natural Resources is in default of $1.95M Convertible Debentures and has not been able to cure the default.” Court-filed documents further note, “Funds will be available for distribution to unsecured creditors.” The U.S. Trustee assigned to the case scheduled a December 15, 2016 341-Meeting of Creditors.

Read more oil & gas bankruptcy news.

The post Sable Natural Resources Chapter 11 Petition Filed appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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