Oil and gas containment and processing services company Permian Holdco 1 Inc. got court approval of its Chapter 11 plan after creditors voted unanimously in favor.
Judge Mary F. Walrath of the U.S. Bankruptcy Court for the District of Delaware said at a hearing Monday that she would approve the company’s “overwhelmingly consensual” plan, which provides unsecured creditors with up to 21.3% recovery on their claims.
The Odessa, Texas-based company last month got approval to seek votes on the plan. All general unsecured creditors of Permian Holdco 1 Inc. and its bankrupt affiliates—Permian Holdco 2 Inc., Permian Holdco 3 ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.