MDR - McDermott International Expected To File For Bankruptcy This Week - Equityholders Likely To Be Wiped Out
Note:
I have covered McDermott International (MDR) previously, so investors should view this as an update to my earlier articles on the company.
According to a late-Friday Bloomberg article, ailing oil-and-gas engineering and construction company McDermott International is about to file for bankruptcy this week, a move that shouldn't come as a surprise to investors after the company defaulted on its senior unsecured notes last month.
Photo: Cameron LNG Facility Construction Site at Hackberry, Louisiana - Source: Mitsui & Co.
In fact, a group of unsecured lenders actually pressed for a restructuring