Bankruptcy Reorganization Chapter 11

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Bankruptcy Reorganization Chapter 11

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October 19, 2009

Stallion Oilfield Services Ltd. Files For Chapter 11

Stallion Oilfield Services Ltd. filed for chapter 11 bankruptcy today at the United States Bankruptcy Court in Wilmington, DE.  The Bank of New York Trust Company, N.A. and Wilmington Trust Company are listed as the largest unsecured creditors with $283.9 million and $259.3 million claims respectively. 

The privately-held partnership, based in Houston, is a provider of oilfield services in the United States.  They employ approximately 1700 people throughout 65 U.S. field offices.  According to Court documents, the debtor has total consolidated funded debt of approximately $755.1 million, including $240.1 million in secured bank debt.

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Posted on October 19, 2009 in Oil/Gas | Permalink

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