Scott Boruff, Miller Energy Resources President and CEO.Meanwhile, Miller Energy is facing a lawsuit by shareholders seeking class-action status for all purchasers of certain Miller preferred shares.
March 29 was the date for a reorganization plan approved by a U.S. Bankruptcy Court in Anchorage, Alaska, for Miller Energy to take effect. Under the plan, the company will establish a new board of directors empowered to adopt any agreements or documents, or take any actions outlined in the plan. The company will continue but as separate entities represented by its 11 subsidiaries.
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