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HighPoint Bankruptcy Plan to Merge With Bonanza Gets Swift OK

March 18, 2021, 8:53 PM

HighPoint Resources Corp. overcame government objections to get its Chapter 11 plan approved in just four days, paving the way for Bonanza Creek Energy Inc. to acquire the bankrupt oil and gas company.

HighPoint solicited creditor votes for its proposed plan and received more than 99% approval before filing its bankruptcy petition March 14. No parties raised objections to confirming the plan at a hearing Thursday in the U.S. Bankruptcy Court for the District of Delaware.

The Denver-based company resolved earlier objections from the Justice Department’s U.S. Trustee, the Internal Revenue Service, the Interior Department, and the Internal Revenue Service ...