Powder River pushed into bankruptcy after president tries to regain control
An attempt by the former head of Powder River Petroleum International to regain control of the company from a court-appointed receiver who labeled the Tulsa business a Ponzi scheme prompted the receiver to push the firm into bankruptcy.
The receiver, Oklahoma City attorney Bruce Day , filed for Chapter 11 bankruptcy for Powder River last month, listing $1.9 million in assets and $57.4 million in debts. Day sai...
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