Dune Energy got court approval of its Chapter 11 plan Sept. 18 six months after filing for bankruptcy in Texas (In re Dune Energy Inc., Bankr. W.D. Tex., 15-10336, plan confirmed 9/18/15).
Dune is one of six oil and gas companies to file for bankruptcy in the wake of a steep decline in oil prices that began last year. The Houston-based company sold most of its assets to Trimont Energy (NOW), LLC and White Marlin Oil and Gas Company, LLC in July.
Under the plan, first lien lenders will receive roughly $40 million, plus an additional $7.8 ...
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