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OFS - PHI expects to exit bankruptcy and change CEOs in a few weeks - August 2019
PHI Inc. expects to complete its reorganization transactions and to emerge from bankruptcy during the first week of September, the helicopter services company said in a Securities and Exchange Commission filing on Aug. 20. The holders of Phi’s $500 million in unsecured notes will received 100% of the restructured company’s equity, and chairman and CEO Al Gonsoulin will be forced into retirement. Gonsoulin, also PHI’s majority shareholder, lent PHI $130 million to refinance an......
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