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 Email This Story Copyright 2010-19 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."