North American Specialty Insurance Company
Case Number:
4:21-cv-02201
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March 08, 2023
Court Rejects Bond Co. Appeal Of Oil Driller's Ch. 11 Plan
A Texas federal judge rejected a challenge by a group of surety bond companies to offshore oil and gas driller Fieldwood Energy's Chapter 11 plan, telling them Wednesday that restoring their claimed subrogation rights could undo a plan that went into effect more than a year ago.
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February 16, 2023
Oil Co.'s Ch. 11 Plan Has Industrywide Effects, Court Told
Attorneys for several surety bond companies told a Texas federal court Thursday that it should overturn a portion of Fieldwood Energy's Chapter 11 bankruptcy plan that freed the company that purchased its oil and gas assets from subrogation obligations, telling the court that "bonds will be hard to come by" across the industry if the plan is upheld.