New Delaware Chapter 11 Filing – EdgeMarc Energy Holdings, LLC
EdgeMarc Energy Holdings, LLC, along with eight affiliates and subsidiaries, has filed a petition for relief under chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 19-11104). EdgeMarc, headquartered in Canonsburg, PA, is a natural gas exploration and production company with 60 producing wells in the Appalachian Basin. The First Day Declaration explains that an explosion along a pipeline system gathering gas from a number of EdgeMarc’s wells, as well as the litigation that explosion spawned, has led to a third of EdgeMarc’s production capacity laying idle. A press release issued by EdgeMarc explains that EdgeMarc intends to sell substantially all of its assets under section 363 of the Bankruptcy Code. Prime Clerk is the proposed claims and noticing agent. The cases have been assigned to the Honorable Brendan Linehan Shannon.
As the law continues to evolve on these matters, please note that this article is current as of date and time of publication and may not reflect subsequent developments. The content and interpretation of the issues addressed herein is subject to change. Cole Schotz P.C. disclaims any and all liability with respect to actions taken or not taken based on any or all of the contents of this publication to the fullest extent permitted by law. This is for general informational purposes and does not constitute legal advice or create an attorney-client relationship. Do not act or refrain from acting upon the information contained in this publication without obtaining legal, financial and tax advice. For further information, please do not hesitate to reach out to your firm contact or to any of the attorneys listed in this publication.