14th May 2018 18:09
LONDON (Alliance News) - US-focused oil and gas company Nighthawk Energy PLC said on Monday it has obtained orders from the UK High Court recognising the Chapter 11 proceedings between the company and its US subsidiary Nighthawk Royalties LLC in the US Bankruptcy Court.
The UK High Court is imposed a stay on any action or proceeding against Nighthawk Energy or Nighthawk Royalties unless given leave by the court under terms imposed.
On May 1, Nighthawk filed for Chapter 11 bankruptcy protection in the US Bankruptcy Court for the District of Delaware to preserve its ability to pursue asset sales and restructuring of the business.
Its two main assets are the Smoky Hill and Jolly Ranch projects on the Denver-Julesberg basin in Colorado.
Shares in Nighthawk Energy remain suspended in London awaiting clarification of its financial position.