Aurelius, Farallon Take Aim at Sabine Oil’s Senior Lenders
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Sabine Oil & Gas Corp.’s worst-off creditors are trying to grab back assets taken by senior lenders as the company tumbled toward bankruptcy, saying everyone else was hurt in the process.
The bid by Aurelius Capital Partners LP, Farallon Capital Offshore Investors II and Sabine’s other unsecured creditors threatens a potentially costly delay to the company’s plans to keep operating by drawing on $253 million it has in cash.