Ultra Petroleum Makes Peace with Junior Creditors, but Restructuring Troubles Remain
Kirkland is mentioned in Reuters Legal regarding a settlement related to client Ultra Petroleum's proposed reorganization plan.
"The deal, revealed by Ultra lawyer Brad Weiland of Kirkland & Ellis during a telephonic court hearing before U.S. Bankruptcy Judge Marvin Isgur in Houston, increases cash recoveries for general unsecured creditors to $3 million from $250,000 previously, plus 9% of any proceeds from ongoing litigation over bondholder make-whole premiums."
This article appeared in its entirety in the August 10, 2020, edition of Reuters Legal.