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Irish oil services group enters Chapter 11, with Irish and Bermudian proceedings to follow

By Rory Butler

04 July 2019

Irish oil services group enters Chapter 11, with Irish and Bermudian proceedings to follow Oil rig / iStock/curraheeshutter

Irish oilfield services group Weatherford International has filed for Chapter 11 protection in a Texas bankruptcy court aiming to cut down its US$8.35 billion debt through a pre-packaged plan that envisages parallel proceedings in Ireland and Bermuda.