Samson Resources Corporation Bankruptcy Investor Recovery

 
Samson Resources Corporation filed for bankruptcy on September 16, 2015.  Soreide Law Group is investigating financial losses in Samson Resources.  If you were invested in Samson Resources Corporation at the recommendation of a stock broker or financial advisor please contact Soreide Law.  Since the investment is not publically traded you may have an illiquid or very close to worthless position compared to what you invested in the company.  Soreide Law Group offers a free consultation to those with losses of over $50,000.  We will investigate if your broker has liability for recommending this investment.
A Japanese investor that bought a 25% stake in Samson Resources Corp. in approximately 2011 that was worth about $1.04 billion sold it back to the company for only $1.  The idea the investor originally had was to join others including KKR in order to buy Samson Resources for $7.2 billion to take it public.  This plan never materialized.  This should give investors an idea of what their investment may be worth.

Samson Resources Corporation’s reorganization plan was approved on Feb 13, 2017.  Priority tax claims and statutory fees were to be paid in full in cash.  Lien holders were given stock rights, but “General Unsecured Claims” off $2.42 billion shall receive recovery in the range of 2.5% to 7%.  The total debt they had going into bankruptcy was approximately $4.3 billion.  Samson Resources Corporation is headquartered in Tulsa, Oklahoma.  Operations are mainly in East Texas and the Rocky Mountain region.
The chapter 11 filing converted a lot of debt to equity further diluting the value of the common stock.  Many new shares were issued in the reorganization as well.  Their reorganization plans claim positive things for the future, but that may or may not materialize.  If you or a loved one has significant financial losses in Samson Resources Corporation or other risky investments due to your stock broker or advisor please call 1-888-760-6552.