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CM - Whiting files RSA & reorg plan to extinguish $2.3B-plus in debt - May 2020
Whiting Petroleum Corp., which declared bankruptcy on April 1, reached a restructuring support agreement with some of its debtholders that would give them overwhelming control of the company post-emergence. The company said it filed a consensual Chapter 11 reorganization plan April 24, more than three weeks after first petitioning for protection from the US Bankruptcy Court for the Southern District of Texas. The RSA and the plan would deleverage more than $2.3 billion by......
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