Weatherford: Enters Voluntary Chapter 11 Bankruptcy – Reducing Debt by $5.8bn
Financial Restructuring Implemented through “Pre-Packaged” Chapter 11 Process Will Reduce Company’s Long-Term Debt by More Than $5.8 Billion Proposed Restructuring Contemplates $1.75 Billion in New Financing and up to $1.25 Billion in Additional Post-Emergence Financing Weatherford Operations Are Continuing Without Interruption and With No Expected Impact on Customers, Vendors, Partners …