Endeavour International seeks to continue credit bid, hearing dates

By Mark Reccek

Bethlehem, Pa., Aug. 10 – Endeavour International Corp.’s official committee of unsecured creditors requested a continuance of the credit bid asset purchase agreement and hearing dates, according to a motion filed Friday in the U.S. Bankruptcy Court for the District of Delaware.

Specifically, the committee is requesting to continue the hearing on the sale, release and dismissal motions and further asks the court to approve the motions and the committee’s challenge to the pleadings in a single, comprehensive hearing after the expiration of the objection deadlines.

The objection deadline is scheduled for Aug. 17 and the hearing date for the dismissal motion is scheduled for Aug. 24. The committee is requesting the court continue the Aug. 24 hearing no sooner than Sept. 24.

According to the motion, there is no logical reason to have two objection deadlines and two hearings on the same issue. The committee also argues the deadlines and two hearings would increase administrative costs.

According to the motion, “having two objection deadlines, two responses, and two hearings on the same issues is inefficient, redundant, and ultimately a waste of resources.”

The committee said in the motion a single hearing will allow it time to analyze complex transactions regarding the sale, settlement and release motions and permit it to conduct limited discovery on the settlement agreement and business reasons for providing a release of the claims.

Endeavour is a Houston-based oil and gas exploration and production company focused on the North Sea and the United States. The company filed for bankruptcy on Oct. 10, 2014 under Chapter 11 case number 14-12308.

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