Lilis Energy’s Bankruptcy Liquidation Plan Gets Court Approval

Lilis Energy Inc. won approval to liquidate under a consensual bankruptcy plan stemming from a $46.6 million sale of its oil and gas business.

Judge Marvin Isgur of the U.S. Bankruptcy Court for the Southern District of Texas approved the Chapter 11 wind-down plan during a telephonic hearing Tuesday, less than a week after authorizing Lilis’ deal with Ameredev Texas LLC.

The Fort Worth, Texas-based exploration and production company resolved all but one objection before the hearing. Isgur overruled the last remaining objection, which was raised by a company shareholder.

The shareholders in this case “are massively out of the ...