The litigation trustee appointed in Elk Petroleum Inc.'s Chapter 11 plan is seeking more than $30 million from former officers and directors for allegedly conducting deals that led to the oil company’s demise.
The four former executives’ “complete lack of governance” over Elk Petroleum and its affiliates “led to the raiding and pilfering of company assets,” according to a complaint filed Wednesday in the U.S. Bankruptcy Court for the District of Delaware by trustee North Country Capital LLC.
Former senior executives Bradley William Lingo, Alexander Hunter, and David Evans—each a resident in Australia—and James Marshall Piccone of Denver breached their ...
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