SRBA bankruptcy attorneys conclude plan negotiations with Castex Energy Debtors, Walter Oil & Gas Corp, Talos Energy, & Prepetition Lenders leading to significant recovery for unsecured creditors

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Judge Marvin Isgur confirmed the Castex Energy debtors’ fourth amended plan at an uncontested hearing today, describing the plan as a “pretty amazing accomplishment” and an “amazing” deal. Noting that he has “zero question” as to whether the plan should be confirmed, Judge Isgur said it was clear that it was prosecuted in “very good faith,” noting the nuances of the plugging and abandonment issues. SRBA expects a significant recovery for the general unsecured creditors as a result of the heavily negotiated plan.