Green Jersey

EnCap still seeking new investors

EnCap is still looking for new investors.

If it doesn’t find them, investors, state taxpayers and other may be out more than $300 mil, according to the Bergen Record.

Thinking about stepping in? If you can, you’ll have stiff competition, according to EnCap’s bankruptcy attorney, who told the Record: “We’re in very serious negotiations with at least two parties, and a few others want more information immediately.”

EnCap filed for Chapter 11 bankruptcy protection last month, after the Meadowlands Commission short-circuited its troubled development plans.

Not everyone will be out money, according to the Record’s Jeff Pillets, who had this look at who benefited financially.