Bankruptcy News

We've summarized the latest docket activity and news for publicly traded companies currently operating under U.S. Bankruptcy Court protection.

Bankruptcy/Chapter 11 / Energy

American Standard Energy Chapter 11 Petition Filed

American Standard Energy filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Western District of Texas, case number 15-70104. The Company, which owns rights to develop and produce reserves of oil and natural gas, is represented by Bernard R. Given of Loeb & Loeb. According to documents filed with the Court, "The Debtors and management continue to evaluate the companies" options in chapter 11, and reserve all their rights in this regard. However, at this time, and in general, the Debtors intend to consummate a reorganization plan which would restructure and/or relieve all or part of the $40 million secured debt asserted by the Secured Creditor and otherwise reorganize the financial affairs of the companies. The Debtors are further considering the sale of certain assets in bankruptcy to support the reorganization efforts."

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