Elk Petroleum’s Liquidation Plan Confirmed by Bankruptcy Court

Elk Petroleum Inc.'s Chapter 11 case is nearing its end with a Delaware bankruptcy judge’s conditional approval of its liquidation plan.

Judge Laurie S. Silverstein of the U.S. Bankruptcy Court for the District of Delaware Wednesday said she’d confirm the plan once the oil and gas company submits a few promised changes to the proposed approval order.

Under the plan, whatever assets remain after Elk Petroleum’s asset sales, which took place earlier in the case, will be transferred to a liquidation trust, along with possible claims to claw back transfers made prior to the bankruptcy filing.

Unsecured creditors holding ...