Drop In Natural Gas Prices Forces Trident Into Ch. 11

Law360, New York (September 9, 2009, 1:11 PM EDT) -- Canadian natural gas company Trident Resources Corp., along with certain of its U.S. and Canadian subsidiaries and affiliates, has filed for bankruptcy protection, citing financial struggles sparked by a precipitous drop in natural gas prices coupled with currency exchange rate fluctuations.

Calgary, Alberta-based Trident filed for Chapter 11 protection Tuesday in the U.S. Bankruptcy Court for the District of Delaware. The company also filed an application with the Court of Queen's Bench of Alberta, Judicial District of Calgary, under the Companies' Creditors Arrangement Act, seeking relief...
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