LINE - Linn Energy, LLC - Common Units

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  • Reuters9 months ago

    U.S. judge to confirm bankrupt Linn Energy's restructuring

    A U.S. judge overseeing the bankruptcy of Linn Energy LLC said on Tuesday he is prepared to confirm its restructuring plan with slight tweaks, backing the oil-and-gas producer's goal of shedding $5.5 billion in debt and splitting into two companies. U.S. Bankruptcy Judge David Jones at the end of a hearing in Houston congratulated Linn's legal team and lawyers for working with its key stakeholders, noting the company would have faced a hard time trying to restructure had they not agreed on the plan. Linn filed for bankruptcy in May and had been negotiating with stakeholders in recent months on how best to split assets with its Berry Petroleum Co LLC subsidiary.

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