New Gulf Resources, LLC Bankruptcy New Filing Alert: Motion For Appoval Of Claims Trading Procedures

On December 17, 2015, a motion for appoval of claims trading procedures was filed in the bankruptcy case of New Gulf Resources, LLC and its affiliates.

The filing was assigned docket number 5 and is described on the court’s official docket as follows:

Motion to Maintain Bank Accounts and (I) Authorizing the Debtors to (A) Continue Their Existing Cash Management System and (B) Maintain Existing Accounts and Check Stock, (II) Granting an Extension of Time to Comply with Section 345(b) of the Bankruptcy Code, and (III) Authorizing the Debtors to Continue Intercompany Transactions and Granting Administrative Expense Status to Intercompany Claims Filed By New Gulf Resources, LLC (Cleary, M. Blake) (Entered: 12/17/2015)

New Gulf Resources, LLC filed for bankruptcy protection, or had an involuntary bankruptcy petition filed against it, on December 17, 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 15-12566. The bankruptcy case is currently assigned to United States Bankruptcy Judge Brendan Linehan Shannon. The law firm of Baker Botts LLP is acting as lead bankruptcy counsel to New Gulf Resources, LLC in the bankruptcy case.


Leave a Reply