Daily News: March 31, 2015

Connacher Lenders Find Advocate in Ex-U.S. Bankruptcy Judge

Bloomberg reported Connacher Oil & Gas defaulted on some of its debt and a creditor group represented by Credit Suisse Group is right to demand repayment, a former U.S. bankruptcy judge said in court papers filed in Calgary.

According to Bloomberg , Connacher, hurt by falling energy prices, needs an Alberta court’s approval to swap C$1 billion ($793 million) of bonds for equity and to issue $35 million of convertible notes.

To read the entire Bloomberg article, click here.