New Delaware Chapter 11 Filing – PWR Oil & Gas General Partners, Inc.
PWR Oil & Gas General Partners, Inc., a Dallas, TX-based oil & gas company, has filed a petition for relief under chapter 11 in the Bankruptcy Court for the District of Delaware (Case No. 19-11161). PWR’s Petition reports an estimated $50 – $100 million in both assets and liabilities, and estimates that there will be funds available for distribution to unsecured creditors. No other pleadings have been filed. A claims and noticing agent has not yet been proposed. The case has been assigned to the Honorable Mary F. Walrath.
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.