Enduro Resource Partners U.S. Trustee objects to plan of liquidation

By Caroline Salls

Pittsburgh, July 24 – The U.S. Trustee overseeing Enduro Resource Partners LLC’s Chapter 11 case objected Tuesday to the company’s proposed plan of liquidation, according to a filing with the U.S. Bankruptcy Court for the District of Delaware.

Acting Region 3 U.S. Trustee Andrew R. Vara said “the plan contains impermissible exculpation and releases” and it “impermissibly seeks to provide the equivalent of a discharge to a liquidating corporate debtor.”

Specifically, the U.S. Trustee said the proposed plan provisions provide for overly broad exculpation regarding both who is entitled to exculpation and what claims are the subject of exculpation.”

In addition, Vara said the Enduro debtors need to prove that the plan, as proposed, is feasible.

The plan confirmation hearing is scheduled for July 30.

Enduro is a Fort Worth, Texas-based oil and gas exploration company. The company filed bankruptcy on May 15 under Chapter 11 case number 18-11174.

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