New Century Energy Corp (fka NCRE)

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If you would have read the SEC filings you would have discovered they have been upside down for years along with a working capital deficit. In Chapter 11 bankruptcy they look to re-organize if possible if anything left over after creditors pick away at the carcass. The overall question is NCEY properties worth more than the loans owed to Laurus so as not to wipe out shareholders equity.
BESV (Blast Energy Services went Chap 11 last year when they owed Laurus 40 million and the shareholders equity survived (in bankruptcy for 13 months). However they had more assets then liabilities at the time of filing ch 11.