Oil Holding Co. Remedial (Cyprus) Files For Ch. 11

Law360, New York (February 18, 2010, 2:35 PM EST) -- Oil and gas holding company Remedial (Cyprus) Public Co. Ltd. has filed for Chapter 11 protection in New York, listing assets and liabilities of between $100 million and $500 million each and saying it plans to liquidate assets and wind down.

In a voluntary petition lodged Wednesday in the U.S. Bankruptcy Court for the Southern District of New York, Remedial said its board of directors has “has received, reviewed and considered a draft asset purchase agreement providing for a sale of substantially all of its assets...
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