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Bankrupt Furie Gets Partial Access to $15 Million Financing

Aug. 12, 2019, 9:49 PM

Oil and gas company Furie Operating Alaska LLC may start using $7 million of up to $15 million in bankruptcy financing, despite a judge’s questions about high professional fees.

“If I’m reading this right, $4 million of $7 million that the borrower seeks to borrow is for professional fees,” U.S. Bankruptcy Court Judge Laurie Selber Silverstein said of the interim borrowing request. Ultimately, $7 million of the $15 million in total bankruptcy financing would go to fees, she said. “Not the prettiest we’ve seen.”

Silverstein nevertheless approved the Anchorage-based oil and gas company’s request for interim bankruptcy financing at a...

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