Bankruptcy Law

Furie Operating Alaska Drawing Bidder Interest in Auction

Nov. 21, 2019, 10:21 PM

Bankrupt oil and gas driller Furie Operating Alaska LLC has drawn interest from “a number of potential bidders” for a Dec. 5 auction of its assets, the company’s attorney said.

Creditors’ assertions that the company plans to completely close its business are false, Timothy Walsh of McDermott Will & Emery LLP told the U.S. Bankruptcy Court for the District of Delaware Nov. 21.

“This is a going-concern sale, this is not a liquidation,” Walsh said. “It’s very likely that we might end up with a plan situation.”

Walsh made his comments during a status teleconference, held in response to demands...

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