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I received bankruptcy notices regarding a company that

offered me shares for some...
I received bankruptcy notices regarding a company that offered me shares for some land my family owned. The bankruptcy is a chapter 11 filing. I assume that I get these notices because I am a debtor, but I don't know what I am supposed to do with this info? Am I supposed to respond? The last thing I received was an approval of debtor's statement. If I am getting nothing because the company filed bankruptcy then what do I do with these letters?
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Answered in 2 hours by:
10/28/2016
DrakeLAW
DrakeLAW, Attorney
Category: Bankruptcy Law
Satisfied Customers: 1,038
Experience: Attorney at Drake Law Firm PLC
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Hi, my name is ***** ***** I look forward to helping you, please give me a moment to review and possibly research answers to your question.

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So you have shares in the company that filed bankruptcy?

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Customer reply replied 1 year ago
Not shares in the company. They were surveying land and issued shares of its perceived value to us family members. It wasnt a lot of money or shares given to us.
Customer reply replied 1 year ago
I don't know if this would be considered company shares or what? I guess we are now considered debtors so I guess they owed us something?

I would need to know what the shares are. You could be either the debtor (which is who filed) or a creditor which means they are trying to discharge money that is owed to you. You need to identify what these shares are for that you have. Also, that Disclosure Statement you mentioned will explain everything that is happening and may shed further light on what you have.

I can help you further if we can determine what shares you have.

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Customer reply replied 1 year ago
Sorry for the delay. Ok I looked over the papers. The company wanted to survey family owned land for oil and contacted us about it. They created a 3 year lease February 2014 to survey the land and sent a copy to me. They were to pay I guess rent by the number of acres we owned. If oil was found they would pay a 20% royalty. Each family member got a certain amount of shares. I uploaded the document I received if you want to take a look. My question is about the paragraphs about filing a claim, etc.I found a few links about the bankruptcy filing also:
http://www.bloomberg.com/news/articles/2016-07-28/halcon-resources-u-s-oil-explorer-files-for-bankruptcy
http://investors.halconresources.com/releasedetail.cfm?ReleaseID=988598

The document you uploaded will not pertain to you. The paragraphs you highlighted pertain to lawyers or other professionals working on the case and to utility companies. Sounds like you have a lease with the debtor and the debtor has to either continue paying it as agree or has to reject it. The only way to know what is going on with what you have is to get the disclosure statement and/or schedules that were filed. You could also call the lawyers for the debtor and maybe someone there will help you.

Should you have received a payment by now and have not or anything like that?

DrakeLAW
DrakeLAW, Attorney
Category: Bankruptcy Law
Satisfied Customers: 1,038
Experience: Attorney at Drake Law Firm PLC
Verified
DrakeLAW and 87 other Bankruptcy Law Specialists are ready to help you
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Customer reply replied 1 year ago
No actually they sent a letter a while back saying that no oil was found. So when I started getting these bankruptcy notices I didnt know what was happening. But I think I will do as you as advised. I have more questions for them. Ok thank you for your help. Ill rate now
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