BE
BankruptBE — Post-Mortem
Lilis Energy, Inc., previously a participant in the oil and natural gas sector, filed for Chapter 11 bankruptcy on June 28, 2020, amidst severe financial challenges stemming from volatile market conditions. The company initiated a liquidation plan confirmed by the Bankruptcy Court on November 17, 2020. Following the sale of its assets for $46.6 million on December 1, 2020, Lilis Energy completed its dissolution on December 4, 2020, effectively marking the end of its operations and erasing its presence from public markets.
Lilis Energy, Inc. filed for Chapter 11 bankruptcy, completed asset liquidation for $46.6 million, and dissolved on December 4, 2020.
Could I Have Seen This Coming?
No structured pre-delisting signals found in our records. Absence of signals does not imply absence of risk.
Post-Mortem Analysis
Five-section narrative grounded in primary filings and contemporaneous reporting.
Origin
Lilis Energy Inc. was incorporated in Nevada and engaged in the exploration and exploitation of oil and natural gas reserves.
Peak
The company filed for Chapter 11 bankruptcy on June 28, 2020, following financial difficulties exacerbated by declining oil prices and operational inefficiencies.
Turning Point
The bankruptcy filing marked a pivotal moment, leading to its restructuring efforts and eventual sale of assets for $46.6 million.
End
Lilis Energy, Inc. was officially dissolved on December 4, 2020, marking the completion of its Chapter 11 liquidation process.
Impact
The dissolution signifies the loss of a once-prominent player in the energy sector, underscoring the challenges faced by companies in a volatile market.
Lessons for Today's Investors
Transferable patterns identified from this case, written as research-report observations.
- 1
Companies must maintain a sustainable business model that can withstand market volatility, particularly in sectors prone to dramatic price shifts.
- 2
Diligently monitoring cash flow and operational efficiencies is crucial for early identification of financial distress.
- 3
The impact of restructuring efforts must be carefully evaluated, as they may not always lead to revitalization and may result in liquidation.
Frequently Asked Questions
When did Lilis Energy, Inc. cease operations?
What was the sale price for Lilis Energy's assets?
What was the status of Lilis Energy's auditor during its closure?
Why did Lilis Energy, Inc. file for Chapter 11 bankruptcy?
What was the significance of the Confirmation Order for Lilis Energy?
Source Filings
Every fact on this page is anchored to a primary SEC filing or regulatory record. Open any source to verify against the original document.
SEC EDGAR · Form 8-KFiled Dec 7, 2020
Lilis Energy, Inc. filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code on June 28, 2020.
SEC EDGAR · Form 8-KFiled Dec 7, 2020
The Bankruptcy Court confirmed the Modified Debtors' First Amended Joint Liquidating Chapter 11 Plan on November 17, 2020.
SEC EDGAR · Form 8-KFiled Dec 7, 2020
All conditions precedent to the effectiveness of the Chapter 11 Plan were satisfied or waived on December 4, 2020.
SEC EDGAR · Form 8-KFiled Dec 7, 2020
Lilis Energy, Inc. completed the sale of substantially all of its assets for a cash purchase price of $46.6 million on December 1, 2020.
SEC EDGAR · Form 8-KFiled Dec 7, 2020
BDO USA, LLP confirmed the cessation of its relationship with Lilis Energy, Inc. on December 3, 2020.
SEC EDGAR · Form 8-KFiled Dec 7, 2020
Lilis Energy, Inc. issued a press release announcing the closing of the asset sale on December 2, 2020.
SEC EDGAR · Form 25Filed May 8, 2017
Removed from listing — 25 filed.
Narrative sections on this page are AI-assisted summaries of the filings linked above. All content is reviewed against primary sources; if you find an error, the canonical record is always the linked filing.
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