Distressed-debt investors owed $1.5 billion along with unsecured creditors are pleading with a bankruptcy judge to open the doors to competing restructuring plans for ATP Oil & Gas Corp., Dow Jones DBR Small Cap reported today. Investors in ATP's $1.5 billion second-lien debt say that they may want to propose their own reorganization plan but do not want to be "hostage" to a company that has already signed away control to top-ranking lenders.
