Coho Energy is exiting bankruptcy protection with new seniormanagement and a new bank facility. Coho and five of its affiliatesfiled for Chapter 11 Aug. 23. At the time, Coho listed totalliabilities of $425 million. Under the reorganization plan, Coho’sthree largest institutional bondholders converted their debt into90% of the equity of the reorganized company. These bondholdersalso provided the majority of the $72 million of subordinatednotes, as provided under the reorganization plan. The bondholdersare Appaloosa Management, Oaktree Capital Management and PPMAmerica.
Tag / Bankruptcy
SubscribeBankruptcy
Articles from Bankruptcy
TransTexas Chapter 11 Plan OK’d
TransTexas Gas Corp. said the United States Bankruptcy Court forthe Southern District of Texas confirmed the company’s Chapter 11reorganization plan, which takes effect as soon as possible.
February 9, 2000
Forcenergy Reorganization Confirmed
Debt-laden Forcenergy Inc. of Miami Wednesday receivedconfirmation of its reorganization from the United StatesBankruptcy Court, Eastern District of Louisiana in New Orleans.
January 21, 2000
Shell Wins Peachtree’s Customers
A Georgia bankruptcy court named Shell Energy Services thewinning bidder for Peachtree Natural Gas’ customers yesterday.Shell’s bid of $19.3 million beat out the only other companyinvolved in the bidding, Georgia Natural Gas Services.
November 18, 1999
Listen to the latest episode of our newest podcast NGI's Hub and Flow via:
