On October 14, 2022, the U.S. Court of Appeals for the Fifth Circuit issued a long-awaited ruling on whether Ultra Petroleum Corp. ("UPC") must pay a $201 million make-whole premium to.
Ultra Petroleum entitled to payment of contractually mandated Make-Whole Amount and default rate of interest. Creditors in Fifth Circuit over years and now appears reached a successful end with October 14, 2022 decision of Fifth Circuit in In re: Ultra Petroleum Corporation.