Houston Court Cuts into Delaware’s Bankruptcy Business
Six publicly traded energy producers have filed for bankruptcy and five of them opted to file in Houston since March, reports Reuters. The latest was Houston-based Linn Energy LLC, which filed on Wednesday.
“Lawyers who help decide where a company seeks bankruptcy protection say the Houston court could move some cases more quickly, saving oil-and-gas companies millions of dollars in potential legal fees, which can then be used to pay creditors,” the report says.
“More companies began to file in Houston after the court adopted a work order that aimed to expedite large cases by directing them to two of its six judges: Martin Isgur and Chief Judge David Jones.”
