January 17, 2018 / 1:57 AM / a year ago

Oil market recovery can't save Exco Resources from bankruptcy

Oil and natural gas producer Exco Resources Inc, which counts investor and U.S. Commerce Secretary Wilbur Ross among its major shareholders, filed for Chapter 11 bankruptcy protection on Monday after struggling with slumping commodity prices.

Exco in a statement said it aims to restructure its finances and discuss with its stakeholders alternatives such as a sale of its assets.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2DkMZgl

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