Maxus Energy Corporation

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Case overview

Case Number:

1:16-bk-11501

Court:

Delaware

Nature of Suit:

Firms

Companies

Government Agencies

Sectors & Industries:

March 17, 2017
Maxus Seeks More Ch. 11 Exclusivity Amid Creditor Proposal

Maxus Energy Corp. asked a Delaware bankruptcy judge on Thursday for more time to poll creditors on its proposed Chapter 11 plan as the insolvent oil exploration firm ponders a competing liquidation proposal from its unsecured creditors.
March 07, 2017
Maxus Ch. 11 Disclosure Held For DIP Lender Switch Talks

In the bankruptcy court equivalent of a flanking maneuver, Maxus Energy Corp.'s unsecured creditors won a Delaware judge's agreement Tuesday to postpone action on the company's Chapter 11 disclosure statement pending talks on a committee-designed financing and reorganization alternative.
January 27, 2017
Maxus Energy's Unsecured Creditors Lambaste Ch. 11 Plan

Unsecured creditors of Maxus Energy Corp., whose bankruptcy filing halted a New Jersey trial over Passaic River remediation, tore into the debtor's Chapter 11 plan on Friday, calling it "patently unconfirmable" and arguing that soliciting creditor votes would be an "utter waste of time and money."
December 20, 2016
Maxus Resolves Exclusivity Row With Pledge To File Plan

Maxus Energy Corporation told a Delaware bankruptcy judge Tuesday that it would file a Chapter 11 plan by the end of the year as part of a resolution with creditors who had objected to the company’s bid to have its plan exclusivity period extended for another 60 days.
December 19, 2016
Maxus Says Killing Plan Exclusive Period Would Derail Case

An attempt by creditors to terminate Maxus Energy Corp.'s Chapter 11 plan exclusivity period would prove to be a disaster for the process and would derail a settlement between the bankrupt oil producer and its parent company, according to Maxus' filings in Delaware court Friday.
November 15, 2016
River Cleanup Claims Against Repsol Sent To NJ

A U.S. bankruptcy court on Tuesday granted oil giant Repsol SA's bid to get claims connected to the Spanish company's potential liability for cleaning up pollution in a New Jersey river remanded back to the Garden State, saying all the criteria have been met for the bankruptcy court to abstain from hearing the claims.
October 19, 2016
Maxus Must File Creditor Info Despite ID Theft Concerns

A Delaware bankruptcy judge told attorneys for bankrupt oil and gas driller Maxus Energy Corp. on Wednesday that privacy concerns were not trumped by the bankruptcy code and said the company must provide the names and addresses of its creditors in its public court filings.
October 12, 2016
Creditors Seek 60-Day Limit For Maxus Ch. 11 Plan

Unsecured creditors of Maxus Energy Corp. on Wednesday urged a Delaware bankruptcy judge to limit the exclusive period during which the oil and gas exploration firm can submit a Chapter 11 plan to 60 days, blasting the company’s bid for more than twice that.
August 23, 2016
River Cleanup Claims Against Repsol Belong In NJ, Co. Says

Spanish oil giant Repsol SA, which once owned a stake in bankrupt Maxus Energy Corp.'s parent, pushed back Monday against Occidental Chemical Corp.'s argument that claims connected to the Spanish company's potential liability for cleaning up pollution in a New Jersey river should be considered in Delaware bankruptcy court.
August 22, 2016
Maxus Seeks OK For $2.3M Ch. 11 Retention, Severance Deal

Maxus Energy Corp. asked a Delaware bankruptcy judge Monday for expedited approval of more than $2.3 million in retention and severance payments for 29 employees, saying the oil and gas producer needs incentives to hold workers as it wrestles with toxic legacies and Chapter 11.