Chapter 11 363 bankruptcy sale of seven separate oil, gas, and other mineral interests located in North Dakota. Current operators of these interests include XTO Energy, Murex Petroleum, and Oasis Petroleum. Stalking horse bids were due on November 19th. Qualified bid submissions due December 15th. The Sales Agent is HYPERAMS.
Do you know what to do if one of your customers files bankruptcy? There are at least three things you should consider: filing for administrative priority status, seeking critical vendor status as leverage, and understanding your risk of being sued for an “avoidance action.” For a more detailed overview of what you should be aware of, read 3 Issues for Vendors to Consider When Their Customer Files Bankruptcy by Michael Brandess of Sugar Felsenthal.