Knight Energy Holdings LLC has filed for Chapter 11 bankruptcy, court records show, KATC.com reported. The petition, filed on Tuesday in federal court, indicates that the company has about $50 to $100 million in assets, compared to $100 to $500 million in debt. The company has been embroiled in controversy for several years. In 2015, Mark Knight, former Knight Oil Tools CEO, was indicted along with two former law enforcement officers on charges of drug racketeering. Knight, former Lafayette Parish Sheriff Deputy Jason Kinch and former Louisiana State Trooper Corey Jackson, are accused of conspiring to plant drugs in Bryan Knight's, Mark Knight's brother's, vehicle so he would be discredited during legal talks over the future of the company. Their trial is set for later this month. Last year a fourth man indicted in the case pleaded guilty.
