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CGG’s Chapter 11 plan wins creditor approval while French bondholders appeal

By Jessica McKay

02 October 2017

CGG’s Chapter 11 plan wins creditor approval while French bondholders appeal

Paris, France iStock.com/DKart

Creditors of the US arm of French geophysical services firm CGG have voted to approve a Chapter 11 plan that will operate alongside a French sauveguard (safeguard) plan to reduce the company’s debt by approximately US$2 billion.