Epic-low energy prices and a slow economy forced Plano oil and gas firm to file bankruptcy, the company says, but some of its investors are accusing the company of fraud. Energytec filed for Chapter 11 bankruptcy protection on May 13 and reported $1.75 million in unsecured operating debt. In an affidavit, Energytec Chief Financial Officer Dorothea Krempein stated that “the combination of recent economic events and the decline of commodity prices have seriously reduced operating revenue” for Energytec... read more
