Levine discusses Ultra Petroleum’s meeting with stakeholder advisors
Sharon Levine, a partner in Saul Ewing’s Bankruptcy and Restructuring Practice, is quoted in this article which discusses Ultra Petroleum’s decision to hold a meeting with advisors of its various stakeholder groups, including opco and holdo groups, the unsecured creditors committee and the equity committee, prior to their second-quarter conference call to discuss its results. The article notes that this is a unusual practice for companies going through bankruptcy and shares a comment from Sharon claiming that this approach is “rare but it’s not a bad idea.”
“A lot of debtors' counsel will give out information at the status conference [in a bankruptcy proceeding], and it doesn’t necessarily go to all the lenders and it doesn’t show up at their stakeholders' desks,” Sharon said in the article. "It's an interesting way to get the message out to your stakeholder base. It may even be part of a new trend."
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