Emerald Oil, Inc. Bankruptcy New Filing Alert: Motion For Authority To Obtain Debtor-In-Possession Financing





On March 23, 2016, a motion for authority to obtain debtor-in-possession financing was filed in the bankruptcy case of Emerald Oil, Inc. and its affiliates.

The filing was assigned docket number 17 and is described on the court’s official docket as follows:

Motion to Approve Use of Cash Collateral // Debtors’ Motion for Entry of Interim and Final Orders (I) Authorizing the Debtors to Obtain Postpetition Secured Financing Pursuant to Section 364 of the Bankruuptcy Code, (II) Granting Liens and Providing Superpriority Administrative Expense Status, (III) Authorizing the Debtors to Use Cash Collateral, (IV) Granting Adequate Protection to the Prepetition Secured Parties, (V) Modifying the Automatic Stay, (VI) Scheduling a Final Hearing, and (VII) Granting Related Relief Filed By Emerald Oil, Inc. (Attachments: # (1) Exhibit A – Proposed Interim Order # (2) Exhibit B – Hart Declaration)(Jones, Laura Davis)

Emerald Oil, Inc. filed for bankruptcy protection, or had an involuntary bankruptcy petition filed against it, on March 22, 2016. 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 16-10704. The bankruptcy case is currently assigned to United States Bankruptcy Judge Kevin Gross. The law firm of Kirkland & Ellis LLP is acting as lead bankruptcy counsel to Emerald Oil, Inc. in the bankruptcy case.

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