Triangle Petroleum Granted Wish to Combine Bankruptcy Hearings

Oil explorer Triangle Petroleum Corp. could be on track for a streamlined bankruptcy case after obtaining court approval for an expedited hearing.

Judge Mary F. Walrath of the U.S. Bankruptcy Court for the District of Delaware May 9 approved the company’s request to hold a June 14 hearing that combines what would otherwise be separate hearings on approving its company information disclosure statement and Chapter 11 plan.

The company, which filed for bankruptcy May 8 after a liquidity crunch and struggles at its subsidiaries, said in court documents that a protracted Chapter 11 case would “unnecessarily drain estate resources for ...