Post-Downturn Financial Woes Push Weatherford to Bankruptcy

摘要

Embattled services giant Weatherford International said it will declare bankruptcy after failing to find its financial footing after the downturn in commodity prices. Weatherford, which is based in Baar, Switzerland, has reached an agreement with creditors that control more than 60% of its senior unsecured debt to restructure its finances through a “pre- packaged” Chapter 11 bankruptcy process.