Another Oil Company, Cubic Energy, Files for Bankruptcy

12/15/15

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Texas oil company Cubic Energy Inc. filed for chapter 11 protection with a prepackaged plan that would hand control to lenders. Read the Daily Bankruptcy Review article via The Wall Street Journal.

(Daily Bankruptcy Review is a daily newsletter with comprehensive coverage and analysis of emerging and in-progress insolvencies and turnarounds. For a two-week trial, visit http://on.wsj.com/DJBankruptcyNews, scroll to the bottom and click “try for free.”)

DBR reports on the bankruptcy of real estate development company Seaboard Realty LLC.

A new proposal from the Office of the Comptroller of currency says many of the country’s big banks would need to provide stress-survival plans, WSJ reports.

Arch Coal Inc. is delaying a $90 million band-interest payment by 30 days, Reuters reports.

DBR reports more in WSJ on the bankruptcy of Norwegian seismic surveyor Dolphin Group SA.

Puerto Rico’s governor, who is trying to solve the territory’s $72 billion fiscal crisis, won’t seek re-election, Reuters reports.

A judge will decide in January if the city of Hillview, Ky., is eligible for chapter 9 bankruptcy, the Bond Buyer reports.

(And don’t forget to check out our blog post on bankruptcy scholars opposing possible changes to the Depression-era Trust Indenture Act.)

Write to Melanie Cohen at [email protected]. Follow her on Twitter at @MelanieLisa

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