Pacific Exploration says creditors approve restructuring plan: Reuters
Canadian oil producer Pacific Exploration & Production Corp said this week that a majority of its creditors approved a restructuring plan, which will help it emerge from bankruptcy, Reuters reported. The company said the plan was approved by 98.4 percent of the affected creditors, including Canadian private equity firm Catalyst Capital Group, which represented 97.2 percent in value of the eligible voting claims. Pacific Exploration expects to implement and complete the transaction later this year.
18 August 2016•1 min read
