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Nine Point Ch. 11 Sale Delayed After $7M Lien Ruling


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Nine Point Ch. 11 Sale Delayed After $7M Lien Ruling
Law360 (June 28, 2021, 8:10 PM EDT) A Delaware bankruptcy judge rejected the bulk of the $157 million in liens asserted by midstream services provider Caliber Midstream Monday, finding the company had valid claims worth about $7 million against oil and gas driller Nine Point Energy and putting on hold a $250 million sale of the debtor s assets.
During a virtual hearing, U.S. Bankruptcy Judge Mary F. Walrath said Caliber s lien claims for services and material provided to support Nine Point s drilling activities in North Dakota were largely unsupported by evidence, but said Caliber had performed a critical role in the development and production of the wells through. ....

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