Oil Co. HVI Cat Canyon Files Bankruptcy After Spill Trial Ends

HVI Cat Canyon Inc., a California oil production company, filed for bankruptcy, following the conclusion of a federal trial over its alleged oil spills.

The company’s Chapter 11 filing in the U.S. Bankruptcy Court for the Southern District of New York July 25 lists assets and liabilities between $100 million and $500 million. The filing is a “bare bones” initial petition which must be followed by more detailed schedules of debts and assets.

The United States, the California Department of Fish and Wildlife, and other government agencies sued HVI in 2011 for at least 17 oil spills that affected streams ...