Investment Losses in Breitburn Energy Partners?
Have you suffered losses investing in Breitburn Energy Partners? If so, the securities attorneys of The White Law Group may be able to help you recover your losses through a FINRA arbitration claim against the brokerage firm that recommended Breitburn Energy Partners to you.
Breitburn is an independent oil and gas master limited partnership (MLP) focused on the acquisition, exploitation, development and production of oil and gas properties in the United States, according to its website. An MLP is a limited partnership which trades publicly on an exchange and thus, provides not only the tax benefits of a limited partnership, but also the liquidity of publicly traded securities.
Breitburn Energy files for bankruptcy.
Breitburn Energy Partners filed for chapter 11 bankruptcy protection May 15. Distributions to common shareholders were cut, then suspended last year.
On September 15, 2016 Breitburn Energy Partners got the go-ahead from a bankruptcy judge on a $9.5 million bonus package for its four top executives, according to the Wall Street Journal.
Judge Stuart Bernstein of the U.S. Bankruptcy Court in Manhattan signed off on the plan over the protests of U.S. Trustee William Harrington, who has been besieged by shareholders complaining that Breitburn’s bankruptcy threatens substantial portions of their life savings.
Investors have sustained heavy losses during the distress in the energy sector as diving prices cut into profits. Breitburn’s shareholders may have more to lose than many, however, due to the company’s master limited partnership status. In addition to watching their entire investment being erased, Breitburn’s shareholders could be hit with a big tax bill for a form of income called “cancellation of debt income.”, according to court papers.
The White Law Group has filed a number of claims involving high risk MLP investments like Breitburn Energy Partners. The firm continues to investigate potential claims against the broker dealers that sold these high risk investments onto unsuspecting investors.
Broker dealers are required to perform adequate due diligence on any investment they recommend and to ensure that all recommendations are suitable for the investor. Recommendations should be appropriate in light of the investor’s age, risk tolerance, net worth, and investment experience.
Broker dealers that fail to adequately disclose risks or make unsuitable investment recommendations can be held liable for investment losses in a FINRA arbitration claim.
If you have invested in Breitburn Energy Partners and would like to speak to a securities attorney about the potential to recover your investment losses, please call The White Law Group at 1-888-637-5510 for a free consultation.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Vero Beach, Florida. To learn more about The White Law Group visit www.whitesecuritieslaw.com.
Tags: Breitburn Energy Partners complaints, Breitburn Energy Partners investigation, Breitburn Energy Partners LP attorney, Breitburn Energy Partners LP bankruptcy, Breitburn Energy Partners LP Chapter 11, Breitburn Energy Partners LP class action, Breitburn Energy Partners LP current value, Breitburn Energy Partners LP debt reorganization, Breitburn Energy Partners LP debt restructuring, Breitburn Energy Partners LP default, Breitburn Energy Partners LP distributions, Breitburn Energy Partners LP investment losses, Breitburn Energy Partners LP K-1, Breitburn Energy Partners LP lawsuit, Breitburn Energy Partners LP lawyer, Breitburn Energy Partners LP NAV, Breitburn Energy Partners LP recovery options, Breitburn Energy Partners LP redemption program, Breitburn Energy Partners LP secondary market Last modified: February 8, 2017