July 6, 2018 / 11:56 PM / 6 months ago

Rex Energy says settlement clears way for Ch. 11 plan or sale

Energy producer Rex Energy Corp on Thursday sought court approval for a $50 million settlement with its most significant creditors that it said establishes terms for successfully emerging from bankruptcy.

“Absent the settlement, the debtor’s restructuring would be uncertain,” Rex said in papers filed in U.S. Bankruptcy Court in Pittsburgh, adding the deal has the creditors supporting its backup plan for a sale.

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