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MDR - McDermott International Enters Chapter 11 Bankruptcy
McDermott International Inc.
January 21st was not a particularly pleasant day for shareholders of McDermott International (MDR). After weeks of rumors and likely months of speculation by investors, the management team at the firm announced a planned restructuring of the company, organized under Chapter 11 of the Bankruptcy Code, in order to drastically improve the fundamental condition of the construction firm. Following its acquisition of Chicago Bridge & Iron, the company began spiraling down as continued (unexpected) cost overruns plagued the firm, as debt rose in order to stave off liquidity concerns, and as management