Permian Holdco 1 Inc. and its affiliates won bankruptcy court approval to solicit creditor votes for their proposed Chapter 11 liquidation plan following their sale and a settlement with key creditors.
Judge Mary F. Walrath of the U.S. Bankruptcy Court for the District of Delaware said at a hearing Thursday that she will grant interim approval of Permian’s disclosure statement and plan after an updated version is filed later today. A final confirmation hearing is scheduled for Jan. 25, 2021.
Under the plan, unsecured creditors would recover from a trust created to wind up remaining assets and pursue litigation, Permian’s ...
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