DISTRESSED DAILY: Titan Energy Shareholders Set to Avoid Wipeout

In a month where bankruptcy filings hit the fastest pace since the financial crisis, and probably wiping out most of those share owners, equity holders in a small energy company may be the ones to buck the trend.

A majority of secured lenders in Titan Energy LLC agreed to give up some of their recovery in the company’s proposed sale and liquidation to its shareholders, according to a statement. Under the restructuring agreement, equity holders could get a consent fee of 3 to 10 cents per common share paid from proceeds of the asset sale, which are anticipated to ...