In February, the parent holding company for Marcellus driller Arsenal Resources, Arsenal Energy Holdings LLC, applied for what has to be the fastest “prepackaged bankruptcy” we’ve ever heard of, sailing through the whole process in 10 days flat (see Arsenal Energy Exits Bankruptcy in 10 Days Flat). Less than 10 months later the company headed back into bankruptcy. However, this time it is Arsenal Resources, the driller itself (not the holding company) that filed for Chapter 11 bankruptcy (see Arsenal Heads into Chapter 11 Bankruptcy for Second Time). The good news for Arsenal is that a Delaware bankruptcy court judge has approved their plan.
In February, the parent holding company for Marcellus driller Arsenal Resources, Arsenal Energy Holdings LLC, applied for what has to be the fastest “prepackaged bankruptcy” we’ve ever heard of, sailing through the whole process in 10 days flat (see 