Sandridge Energy (“Sandridge”) and Arch Coal (“Arch”) earned court approval to emerge from bankruptcy on September 9 and September 13, 2016, respectively. Together, Sandridge and Arch were able to shed approximately $9 billion in debt and start anew. How nice!
If you’re a Sandridge and Arch creditor, how does that sit with you?
These companies join 100 other North American oil producers that have filed for bankruptcy protection since early 2015. The Securities Arbitration and Investment Litigation Lawyers at the Silver Law Group, Law Office of David Chase, LLC and Ciklin Lubitz & O’Connell are currently investigating cases relating to investments in Sandridge and Arch. Sandridge filed for bankruptcy protection in May 2016, subsequent to Arch’s bankruptcy filing in January 2016.