In big Chapter 11 bankruptcy cases, lawyers’ and other professionals’ fees and expenses can often be quite high. If the fees and expenses become unduly large, the concern becomes that they might become harmful to the filing company’s value and possibly to investor recoveries.
Houston-based Sabine Oil and Gas Corporation filed for Chapter 11 bankruptcy on July 15, 2015, in the U.S. Bankruptcy Court for the Southern District of New York. Sabine is an independent energy company engaged in the acquisition, production, exploration and development of onshore oil and natural gas properties in the United States. Sabine’s current operations are principally located in the Cotton Valley Sand and Haynesville Shale in East Texas, the Eagle Ford Shale in South Texas, the Granite Wash in the Texas Panhandle and the North Louisiana Haynesville.
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