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Mexican court declares bankruptcy of Oceanografía

Tuesday, August 9, 2016


Mexican oil services firm Oceanografía was declared bankrupt by a Mexican court after it found that a bid signed by 66 percent of its shareholders to restructure the company was illegal.

The country’s Administration and Disposal of Property authority will name a new group to take over the sale process of the company, which could take several years.

Source: El Financiero