Junior creditors of a bankrupt sand supplier for fracking-style oil drillers are seeking court permission to pursue claims related to a 2023 royalty agreement between the nonbankrupt parent company and a loan provider.
FCI Sand Operations LLC has chosen not to pursue claims stemming from a July 2023 deal between parent Field Camp Investments LLC and RJ Machine Co. Inc., even though they are colorable, a committee of unsecured creditors said in a Wednesday filing in the US Bankruptcy Court for the Northern District of Texas.
About $1.3 million was paid to RJ Machine before last July’s bankruptcy filing, the ...
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