Cubic Energy Inc.— Bankruptcy Filing
Cubic Energy Inc. Allegedly Filed for Bankruptcy Protection in a Prepackaged Plan
Have you invested your hard-earned money in Texas and Louisiana independent operator Cubic Energy Inc.? Cubic Energy Inc. allegedly has filed for bankruptcy protection in a prepackaged plan that gives control of the company to its lenders, according to the filing in U.S. Bankruptcy Court in Delaware.
Dallas-based Cubic is handing over control of the company to creditor Wells Fargo Energy Capital Inc. and secured bondholders, according to the filing in U.S. Bankruptcy Court in Delaware.
Cubic Energy Inc. Purportedly Has Between 50 and 99 Creditors, Assets of $50 Million to $100 million, and Debts of $100 Million to $500 Million
Has your our stockbroker made a recommendation that you invest in Cubic Energy Inc.? If so, you may be entitled to seek compensation for your investment against the brokerage firm your investment professional was registered with, if the investment recommendation did not include adequate disclosures regarding the risks involved in your investment, or was otherwise inappropriate given your risk profile.
The aforementioned filing claims that the company has between 50 and 99 creditors, assets of $50 million to $100 million, and debts of $100 million to $500 million, according to the filing in U.S. Bankruptcy Court in Delaware.
According to Cubic’s website, in Texas the company owns 28 natural gas wells and 19 oil wells, located in Leon County, and the gas wells are producing from the Lower Bossier, Middle Bossier, Cotton Valley Knowles Limestone and Pettet formations, and the oil wells are producing from the Austin Chalk, Woodbine and Glen Rose formations.
The Peiffer Wolf Securities Lawyers Often Assist Investors
The Peiffer Wolf securities lawyers often assist investors who lose money as a result of inappropriate investment recommendations in energy companies. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of risky energy companies are encouraged to contact the securities lawyers at Peiffer Wolf, Jason Kane or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 585-310-5140.