BPZ Resources, Inc. Bankruptcy New Filing Alert: Motion For Authority To Sell Assets Of The Estates Pursuant To Section 363 Of The Bankruptcy Code

On June 8, 2015, a motion for authority to sell assets of the estates pursuant to section 363 of the Bankruptcy Code was filed in the bankruptcy case of BPZ Resources, Inc. and its affiliates.

The filing was assigned docket number 187 and is described on the court’s official docket as follows:

Emergency Motion Pursuant to 11 U.S.C. Sec. 105(A) and 363 and Bankruptcy Rules 2002 and 6004 for Orders (I) (A) Approving Bidding Procedures and Notice Procedures Related to the Proposed Sale of Assets and (B) Scheduling A Hearing on Approval of the Proposed Sale of Assets; (II) Approving the Sale of Assets Free and Clear of Claims and Liens; (III) Authorizing the Debtor to Take Certain Corporate Actions to Purchase the Turbine Assets and (IV) Granting Related Relief Filed by Debtor BPZ Resources, Inc. (Attachments: # (1) Exhibit # (2) Exhibit) (Cicack, Walter)

BPZ Resources, Inc. filed for bankruptcy protection, or had an involuntary bankruptcy petition filed against it, on March 9, 2015. The bankruptcy case is pending before the United States Bankruptcy Court for the Southern District of Texas . The case number for the lead bankruptcy case is 15-60016. The bankruptcy case is currently assigned to United States Bankruptcy Judge David Jones. The law firm of Stroock & Stroock & Lavan LLP is acting as lead bankruptcy counsel to BPZ Resources, Inc. in the bankruptcy case.


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