Nine Point Ch. 11 Sale Passes With Caliber Lien Protections

Law360 (June 29, 2021, 6:36 p.m. EDT) – The $ 250 million sale of Chapter 11 of oil and gas driller Nine Point Energy cleared a Delaware bankruptcy court on Tuesday after the debtor, its buyers and an intermediary service provider agreed to protect the contractor’s language guarantee.

During a virtual hearing, U.S. bankruptcy judge Mary F. Walrath said she would sign an update to the sell order that included new wording that would provide adequate protection for Caliber Midstream privileges, a day later. that the court said Caliber held more than $ 7 million in valid liens against the debtor for drilling and mining services.

The parties were engaged in discussions on …

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