Oil Rig Installer Epic Files Liquidation Plan After Asset Sale

Bankrupt Epic Companies LLC, which installed offshore oil and gas rigs, filed its liquidation plan, repaying secured creditors while shutting out shareholders.

Secured creditors, depending on their liens, will recover between 61% to 100% of their claims, according to the plan, filed Thursday in the U.S. Bankruptcy Court for the Southern District of Texas.

Shareholders of the Houston-based company, which sold most of its assets in bankruptcy, won’t recover anything for their interests.

Priority claims, including owed taxes and administrative claims, will be paid in full. A liquidating trust, which will be created by the plan, will pay unsecured ...