LegalJul 9, 2026, 05:34 PM
New Era Energy settlement with Trustee approved for $1.0M
AI Summary
New Era Energy & Digital announced that the U.S. Bankruptcy Court approved its previously disclosed $1.0 million settlement with the United States Trustee for the bankruptcy estates of Acacia Resources, LLC and Acacia Operating Company, LLC. This settlement resolves all trustee-controlled claims in the State of New Mexico's lawsuit against the company. Of the total, $350,000 will go to the State of New Mexico and $650,000 to the Trustee. The company denies liability, and while the settlement dismisses five claims against the company, three claims against E. Will Gray II in his individual capacity remain.
Key Highlights
- U.S. Bankruptcy Court approved settlement with United States Trustee.
- Total settlement payment of $1.0 million.
- $350,000 to be paid to the State of New Mexico.
- $650,000 to be paid to the Trustee for Acacia Resources, LLC bankruptcy estate.
- Payment to be made within five business days of court order.
- Settlement resolves all trustee-controlled claims against New Era Energy.
- Company denies liability; five claims dismissed, three against individual remain.
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