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Cobalt International Energy Possible Ch. 11

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In Form 10-Q filed on November 2, 2017, Cobalt International Energy, Inc. filed their unaudited financial statements for the quarterly period ended September 30, 2017. The Company announced that they have engaged Houlihan Lokey, Inc. as financial advisor and Kirkland & Ellis LLP as special legal advisor to advise management and its board of directors regarding potential strategic alternatives to enhance liquidity and address its current capital structure. Such strategic alternatives may include asset sales or liquidity-enhancing transactions that the Company has commenced previously, as well as restructuring some or all of debt to preserve cash flow which may include seeking private restructuring or reorganization under Chapter 11 of the U.S. Bankruptcy Code. Read more on distressed companies.

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