IVAN files Bk at last
Ivanhoe Energy declared bankrupt after failing to restructure
Jun 3 2015, 08:35 ET | About: Ivanhoe Energy, Inc. (IVAN) | By: Carl Surran, SA News Editor
Ivanhoe Energy (NASDAQ:IVAN) says it is now bankrupt after failing to reach a viable restructuring proposal.
Ivanhoe had filed for bankruptcy protection in February and had been working on restructuring options with its creditors; it had until June 1 to file its restructuring proposal after receiving an extension in early May.
On top of sliding oil prices, Ivanhoe suspended an Alberta oil sands project due to regulatory hurdles, faced executive departures and had cut operations in Ecuador as talks with a partner to develop a heavy oil project stalled.
The greatest deception men suffer is from their own opinions.
~ Leonardo da Vinci
