Trident Resources' Plan Gets OK, Cuts $790M In Debt

Law360, New York (June 16, 2010, 5:03 PM EDT) -- A bankruptcy judge has confirmed Trident Resources Corp.'s second amended joint plan of reorganization, which paves the way for the bankrupt Canadian natural gas company to emerge from Chapter 11 protection by cutting its consolidated debt from about $1.2 billion to $410 million.

Judge Mary F. Walrath of the U.S. Bankruptcy Court for the District of Delaware on Tuesday signed off on the plan, which was approved by the overwhelming majority of creditors who were able to vote.

“The plan is the product of extensive negotiations...
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