Black Elk receives approval to use cash collateral through Oct. 28

By Mark Reccek

Bethlehem, Pa., Oct. 14 – Black Elk Energy Offshore Operations LLC’s cash collateral use has been extended through Oct. 28, according to an order issued Wednesday with the U.S. Bankruptcy Court for the Southern District of Texas.

A revised budget makes $459,229 available through the week ending Oct. 28.

According to the order, Liberty Mutual Insurance Co. is ordered to release $228,000 from its collateral to the company.

Also, the order said the company is authorized to pay Island Operating Co. on or about Oct. 27 for work to be performed the week of Oct. 26.

Black Elk’s cash collateral use was previously scheduled to expire on Oct. 13.

Black Elk Energy is a Houston-based oil and gas company that filed for bankruptcy on Sept. 15. The Chapter 11 case number is 15-34287.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.