Energy Transfer Slams Gulfport’s ‘Disparate’ Creditor Treatment

A vendor of bankrupt Gulfport Energy Corp. is complaining that the natural gas company unfairly intends to compensate some creditors more than others, adding to other objections to its Chapter 11 plan.

Gulfport’s unsecured creditors, mostly trade vendors like Energy Transfer, would get a total of 6% of the company’s new common stock, according to an objection Energy Transfer LP filed Monday.

In contrast, creditors of Gulfport subsidiaries—primarily holders of unsecured notes—would get 94% of the new common stock and the rights to participate in a $50 million rights offering at a 30% discount, it said.

The bankruptcy court shouldn’t ...