Bankruptcy Court Approves the Retention of Investment Bank as Broker to the Trustee to Market and Sell the Bankruptcy Estates’ Equity Interests in Vantage Commodities

June 27, 2019

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Copyright 2010-19 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com

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A bankruptcy court has approved the retention of Drexel Hamilton, LLC, as broker to the Trustee, to assist the Trustee in a process to conduct a sale of the equity interest of Big Apple Energy LLC and Clear Choice Energy LLC (both of which are subject to Chapter 7 bankruptcy proceedings, hereafter, "Debtors") in Vantage Commodities Financial Services, LLC

In the schedules filed with their bankruptcy petition, each of the Debtors scheduled their respective 50% ownership interest, for a total of 100%, of the issued and outstanding shares of Vantage Commodities Financial Services, LLC

A trustee in the bankruptcy proceeding described Vantage’s assets as consisting of, "credit facility loans to various energy suppliers that are secured by accounts receivables from its customers and a credit portfolio of working capital loans."

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