July 16, 2018 / 9:05 PM / a month ago

Energy producer Exco sees bankruptcy potentially going into 2019

Bankrupt energy producer Exco Resources Inc said on Friday in court papers it will present its key stakeholders with an outline of a potential reorganization plan but may need to stay in Chapter 11 into 2019.

Details of the reorganization will be shared confidentially, Exco said in its papers filed in U.S. Bankruptcy Court in Houston. The company, which counts U.S. Commerce Secretary Wilbur Ross among its major shareholders, argued for a court order setting a December 11 deadline to file a plan and through February 11, 2019, to solicit support from creditors.

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