Bankrupt Elk Petroleum Files Liquidation Plan to End Chapter 11

摘要

Bankrupt oil and gas company Elk Petroleum Inc. plans to liquidate its remaining assets and wrap up its Chapter 11bankruptcy.Under the plan led Tuesday with the U.S. Bankruptcy Court for the District of Delaware, all of Elk Petroleum’sassets will be transferred to a liquidating trust, where litigation claims will be vested. Elk Petroleum’s non-debtoraliates that have ongoing operations will be liquidated, and any proceeds will go to the trust.