TPC Group Files for Chapter 11 Protection; Will Implement Financial Restructuring

摘要

Houston— TPC Group said that the company and certain of its subsidiaries have voluntarily filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of Delaware. The company plans to use the proceedings to implement a financial restructuring with the support of a majority of its secured noteholders that will deleverage and recapitalize the company's balance sheet and definitively address other legacy liabilities.