Norse Energy Corp. ASA announcesd that its US subsidiary, Norse Energy Corp. USA, has appointed a financial advisor, Next Point LLC, to assist the company in obtaining debtor in possession financing. The retention of Next Point is subject to approval by the Bankruptcy Court.
The company previously announced that the US subsidiary had filed a voluntary petition for Chapter 11 protection and reorganization under the United States Bankruptcy Code.
The company continues to pursue alternatives to secure funding for the Norwegian parent company, Norse Energy Corp. ASA.