Tulsa pipeline firm files bankruptcy

A Tulsa based pipeline company, EastOK Pipeline LLC has filed for Chapter 11 bankruptcy protection and did it right in the middle of an Oklahoma City federal court case where it was one of the defendants.

The bankruptcy filing was made Aug. 7 in the Western District bankruptcy court of Texas by the firm founded in 2007. It listed the number of creditors as ranging from one to 49. Documents in court showed EastOK listed assets from $10 million to $50 million while liabilities were in the $100 million to $500 million range.

Its largest debt was $333,000 to Booth Environmental Sales and Service of Wilburton. The list of the 20 largest unsecured claims, as indicated in the bankruptcy court filing included a $280,000 debt to Blackjack Construction Company of Perkins.

The latest filing in the case was Aug. 14 when a long list of creditors was notified of the bankruptcy filing.

EastOk had been listed as a defendant in an earthquake lawsuit. But U.S. District Judge Stephen P. Friot on Aug. 15 stayed the actions of the suit because of the firm’s bankruptcy filing.