Saratoga Resources equityholders’ request for representation OK’d

By Mark Reccek

Bethlehem, Pa., Aug. 3 – Saratoga Resources Inc.’s informal equity security holders committee’s request to appoint an official equity committee was approved for the company’s Chapter 11 case, according to an order issued Monday in the U.S. Bankruptcy Court for the Western District of Louisiana.

An informal committee of Saratoga Resources equity security holders asked the bankruptcy court on July 14 to order the appointment of the official committee.

“The appointment of an equity committee will assure adequate representation of the debtors’ equity security holders, who are key constituents to these proceedings and whose interests are clearly lacking in representation,” the informal committee said in the July 14 motion.

A hearing on the matter was held on July 21.

Saratoga Resources is an oil and natural gas exploration and production company based in Houston. The company filed for bankruptcy on June 18 under Chapter 11 case number 15-50748.

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