Castex Bankruptcy Plan Vote Delayed to Get More Info on Cleanup

April 16, 2021, 7:30 PM

Castex Energy 2005 Holdco LLC must revise its bankruptcy plan and disclosures to address lingering concerns about its ability to address environmental cleanup liabilities, a judge said.

The Houston-based company needs to provide more information explaining specific features of its Chapter 11 wind-down plan and how it will meet obligations to plug and abandon oil and gas wells, Judge Marvin Isgur said at a hearing Friday. The judge responded to concerns from attorneys for the company’s non-bankrupt business partners.

Creditors will be able to review the updated documents and raise concerns before the court approves a vote on the plan, ...

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