Energy Transfer Says EdgeMarc Creditors ‘Derailed’ Bankruptcy

An Energy Transfer LP unit argues in court papers that EdgeMarc Energy Holdings LLC and its creditors have gummed up the co.’s bankruptcy with premature litigation and an “abject failure” of a sale process.

• “These cases have been derailed by an aggressive and heavy-handed committee who, collectively with the debtors, have incurred tens of millions of dollars in professional fees,” attorneys for ETC Northeast Pipeline LLC write in an objection, “with nothing to show for it other than a self-inflicted administrative insolvency and an auction that did not fail, but instead, was never even commenced”
• EdgeMarc’s equity owners -- ...