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Westlaw News

Bankrupt Samson Resources reaches settlement for Ch. 11 plan

Bankrupt energy company Samson Resources Corp said on Friday it has reached a key settlement with stakeholders that averts a rare courtroom battle with its unsecured creditors over rival plans for restructuring $4 billion in debt.

The settlement outlined in court papers in U.S. Bankruptcy Court in Delaware also clears the way for the Tulsa, Oklahoma-based company to rework its reorganization plan and bring its long Chapter 11 case to an end.

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