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Article: EOTT Energy Partners, L.P. Proceeds With Restructuring as EOTT Energy Corp. Joins EOTT's Voluntary Pre-Negotiated Restructuring Plan.
- Article from:
- PR Newswire
- Article date:
- October 22, 2002
CopyrightCOPYRIGHT 2002 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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EOTT Energy Partners, L.P. (OTC Pink Sheets: EOTPQ) announced today that its general partner, EOTT Energy Corp., filed a Chapter 11 proceeding for purposes of joining in the voluntary, pre-negotiated restructuring plan that EOTT Energy Partners, L.P. and its subsidiaries (EOTT) filed on October 8. This move is another step in EOTT's restructuring plan to formalize a complete legal separation from Enron. EOTT Energy Corp. will cease to exist upon confirmation of the plan of reorganization. Also upon confirmation, the restructuring plan will allow EOTT to significantly reduce its debt and restructure its finances. EOTT anticipates the restructuring will be completed in ...
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