Brian Huckabee spoke with Tulsa World Business Writer Casey Smith in August, 2015 on the occasion of Samson Resources Corp.’s announcement of its intention to file for reorganization under chapter 11 of the Bankruptcy Code.
Regarding chapter 11 bankruptcy, Huckabee told the Tulsa World, “Chapter 11 works best for a company that’s making a current profit but that has preexisting debts that it can’t afford to pay as they’re coming due.”
Ms. Smith described Huckabee as a “Tulsa-based” “attorney who specializes in bankruptcy and business law” who “works with both private citizens and businesses.”
She said “Huckabee has executed all types of bankruptcies — Chapter 7, the simplest but least flexible form of filing; Chapter 13, reserved for sole proprietorships or individuals in situations where Chapter 7 doesn’t fit; or Chapter 11, the type of bankruptcy Samson is set to pursue.”
Huckabee told Ms. Smith that it is surprising how many people have never missed a payment on their debts before they visit a bankruptcy lawyer. He said “the point at which a person realizes it’s time to file for bankruptcy can be referred to as the ‘event horizon,’ a reference to a point of no return concept most often associated with black holes. They simply look up one day and realize they owe more than they’ll ever be able to pay back . . . . I call that going over the event horizon, (the edge of) a black hole.”
The article appeared in the Tulsa World on August 23, 2015. It can be viewed at The Business of Bankruptcy, Tulsa World, August 23, 2015