Boomerang Tube, LLC (a/k/a Oilfield Tubulars, LLC) Bankruptcy New Filing Alert: Order Regarding The Motion For Authority To Use Cash Management Systems

On June 10, 2015, an order regarding the motion for authority to use cash management systems was filed in the bankruptcy case of Boomerang Tube, LLC (a/k/a Oilfield Tubulars, LLC) and its affiliates.

The filing was assigned docket number 45 and is described on the court’s official docket as follows:

Order (A) Authorizing the Debtors to (I) Continue Using Their Existing Cash Management System, Including Bank Accounts, and Honor Related Prepetition Fees and Expenses, and (II) Maintain Their Existing Business Forms, (B) Authorizing Continued Intercompany Transfers Related to Payroll Funding, and (C) Granting a Waiver of the Investment and Deposit Requirements of Section 345(b) of the Bankruptcy Code. (Related Doc # [5]) Order Signed on 6/10/2015. (LCN)

Boomerang Tube, LLC (a/k/a Oilfield Tubulars, LLC) filed for bankruptcy protection, or had an involuntary bankruptcy petition filed against it, on June 9, 2015. The bankruptcy case is pending before the United States Bankruptcy Court for the District of Delaware. The case number for the lead bankruptcy case is 15-11247. The bankruptcy case is currently assigned to United States Bankruptcy Judge Mary Walrath. The law firm of Young Conaway Stargatt & Taylor, LLP is acting as lead bankruptcy counsel to Boomerang Tube, LLC (a/k/a Oilfield Tubulars, LLC) in the bankruptcy case.


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