Lenders to ATP Oil & Gas have had precious little certainty to cling to over the past few years. The one thing that secured lenders thought at least they could depend on was that in a bankruptcy, there were hard assets that would back up their claims and make them whole in the end – given that ATP extracts fuels from underwater sites with proven reserves in the Mediterranean Sea, the Gulf of Mexico and the North Sea.
Lenders to ATP Oil & Gas have had precious little certainty to cling to over the past few years. The one thing that secured lenders thought at least they could depend on was that in a bankruptcy, there were hard assets that would back up their claims and make them whole in the end – given that ATP extracts fuels from underwater sites with proven reserves in the Mediterranean Sea, the Gulf of Mexico and the North Sea.
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