CrossFoot Energy, LLC Bankruptcy New Filing Alert: Objection To The Motion For Authority To Obtain Debtor-In-Possession Financing

On November 23, 2014, an objection to the motion for authority to obtain debtor-in-possession financing was filed in the bankruptcy case of CrossFoot Energy, LLC and its affiliates.

The filing was assigned docket number 21 and is described on the court’s official docket as follows:

Objection to (related document(s): 4 Motion to use cash collateral – Debtors Motion for Entry of Interim and Final Orders Authorizing the Use of Cash Collateral and Granting Adequate Protection filed by Debtor CrossFoot Energy, LLC, 5 Motion – Debtors Motion for Order Authorizing the Debtors to Honor Certain Outstanding Pre-Petition Checks. filed by Debtor CrossFoot Energy, LLC, 6 Motion – Debtors Motion for Order Authorizing Payment of Prepetition Employee Compensation and Other Employee-Related Expenses. filed by Debtor CrossFoot Energy, LLC)ADDENDUM TO OBJECTION OF PROSPERITY BANK TO DEBTORS’ (I) MOTION FOR ENTRY OF INTERIM AND FINAL ORDERS AUTHORIZING THE USE OF CASH COLLATERAL AND GRANTING ADEQUATE PROTECTION; AND (II) OTHER FIRST DAY MOTIONS filed by Creditor Prosperity Bank. (Attachments: # 1 Exhibit A-1 LOAN AGREEMENT AS AMENDED # 2 Exhibit A-2 LOAN AGREEMENT AS AMENDED # 3 Exhibit A-3 LOAN AGREEMENT AS AMENDED # 4 Exhibit B – NOTES # 5 Exhibit C – EXECUTED NOTICE OF MATURITY # 6 Exhibit D – SECURITY AGREEMENTS # 7 Exhibit E – DEEDS # 8 Exhibit F-1 – UCC AND CONTROL AGREEMENT # 9 Exhibit F-2 – UCC AND CONTROL AGREEMENT # 10 Exhibit G – PROPOSED CASH COLLATERAL ORDER) (Weitman, David)

CrossFoot Energy, LLC filed for bankruptcy protection, or had an involuntary bankruptcy petition filed against it, on November 20, 2014. The bankruptcy case is pending before the United States Bankruptcy Court for the Northern District of Texas . The case number for the lead bankruptcy case is 14-44668. The bankruptcy case is currently assigned to United States Bankruptcy Judge Russell Nelms. The law firm of Forshey & Prostok LLP is acting as lead bankruptcy counsel to CrossFoot Energy, LLC in the bankruptcy case.


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