The plan, which was approved earlier this month, calls for the company to transfer its assets to litigation and liquidation trusts before being dissolved.
On Wednesday, investment bank Blackhill Partners, which led Black Elk through the Chapter 11 Bankruptcy proceeding, said the process included more than $1 billion of restructured liabilities and $15 million in structured roll-up debtor-in-possession financing.
"Black Elk was a complex bankruptcy involving the largest ever attempted oil and gas decommissioning plan in Chapter 11," Blackhill Partners director Lance Gurley said.
The
