 The price paid for the buyout was a 69% premium over the $3.70 closing price for Greka's stock May 19, 2003, the day before Grewal announced his intent to take the company private.CIBC World Markets advised Greka on Grewal's offer.In 2005, Greka Energy filed for voluntary Chapter 7 bankruptcy liquidation in New York, beset by legal judgments, state environmental litigation and a federal criminal probe.