The U.S. Bankruptcy Court entered an order confirming Castex Energy Partners’ Third Amended Joint Chapter 11 Plan. Among other things, the Plan provides for conversion of a substantial portion of the Company’s lender’s debt into equity, with general unsecured claimholders receiving ash and warrants.
This privately-held oil and gas explorer filed for Chapter 11 protection on October 16, 2017, listing More than $100 billion in pre-petition assets.
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