Lilis Energy to pursue sale process | Oil & Gas Journal

OGJ editors
Aug 17th, 2020

Lilis Energy will pursue a process to sell substantially all of its assets in accordance with a restructuring support agreement after certain investment funds and entities affiliated with Värde Partners declined to pursue a new money investment.

Lilis Energy Inc., Fort Worth, will pursue a process to sell substantially all of its assets in accordance with terms a restructuring support agreement after certain investment funds and entities affiliated with Värde Partners Inc. declined to pursue a new money investment in the company to sponsor a chapter 11 plan of reorganization.

The proposed form of bidding procedures was previously filed with the United States Bankruptcy Court for the Southern District of Texas, Houston Division, and will be scheduled for hearing and approval by the court on Aug. 21.

The Lilis Energy Inc. has voluntarily filed under Chapter 11 of the US Bankruptcy Code in the US bankruptcy court for the Southern District of Texas, Houston Division.
— Read on www.ogj.com/general-interest/companies/article/14181783/lilis-energy-to-pursue-sale-process

Leave a Reply