Securities Arbitration Lawyers BlogPayson Petroleum, based in Bartonville Texas, and its Private Offerings Under Investigation After Payson Companies Declare Bankruptcy
Our attorneys are investigating Bartonville, Texas-based Payson Petroleum, Inc. and Payson Operating, LLC after the two companies declared bankruptcies, leaving unsecured investors holding over $20 million in losses.
Payson Petroleum and Payson Operating Files for Bankruptcy
Payson Petroleum and Payson Operating filed for chapter 7 bankruptcy in June 2016. The bankruptcy was later converted to a chapter 11 bankruptcy. According to the bankruptcy trustee, neither Payson Petroleum nor Payson Operating will have the funds to pay its unsecured creditors after administrative expenses are paid.