An oil & gas company in Corpus Christi, BNP Oil and Gas Corp. and other related companies are now heading toward a settlement in a bankruptcy case. The owner of the company will have to pay $1.5 million, but the largest creditor still wants more. 

A Corpus Christi businesswoman, who invested more than $5 milion into Black's companies offered the bankruptcy trustee $216,000 for the right to receive $2.25 million.

BNP Petroleum Corp. went into bankruptcy in April 2009 when they were reporting $12 million in unsecured debt with monthly revenue that hit $1,000 or less at times. The owner is currently appealing the arbitration ruling.

If you or a loved one has been struggling with debt, you need experienced representation on your side. Contact the Arizona business bankruptcy lawyers of the Harmon Law Office today by calling 480-829-0494.