Cooper Management and Susan Salt Water Disposal Well of Burke County, ND filed with the U.S. Bankruptcy Court separate objections to Key Energy Services’ Joint Prepackaged Plan of Reorganization.
Cooper Management asserts, “Since Key’s filing of its bankruptcy petition, Cooper has received an estimate of the expected costs of repair the Premises as a result of key’s use of the premises. Exhibit B is an estimate of $76,800 received from Victor G. Miller Construction. Cooper does not believe that any of the repairs are the product of ordinary wear and tear….To date, Cooper expects that its actual and reasonable legal fees and expenses to date exceed $7,500. Finally, on November 11, 2016, Cooper contracted to have limited Phase II environmental testing done at the Premises. Cooper has not yet received the results of the testing.”
The objection continues, “Accordingly, taken together, Cooper’s damages exceed $134,300, not including any unpaid utilities or taxes due under the Lease, any claims for indemnification or contribution for environmental remediation necessary as a result of Key’s use of the Premises, and any additional legal fees and expenses incurred by Cooper.”
Read more energy bankruptcy news.
The post Key Energy Services Objections Filed appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.