It is reported that Vararis listed debts of 7.85 billion US dollars (about 54.3 billion yuan) in its bankruptcy application. After this bankruptcy application, more than half of the creditors agreed to convert more than $6.5 billion in debt into equity, and the company will also receive $500 million in new financing from creditors.
Tom Burke, CEO of Vararis, said that the COVID-19 epidemic has aggravated the sharp contraction of the energy industry, and enterprises must take measures to create a stronger company that can adapt to the long-term downturn of the industry. He also said that the company will continue to provide services to customers during the period of filing for bankruptcy protection.
Extended data
The epidemic has led to the bankruptcy of many enterprises;
The sudden epidemic swept the world, and its impact on the global economy was enormous. Since the beginning of this year, more than 400 large enterprises in the United States have declared bankruptcy. From July 27th to August 9th alone, 3 1 company filed for bankruptcy. This is the worst data in a decade, and all walks of life have suffered billions of dollars in losses.
This year, nearly 65,438+000 companies in the industrial and energy industries filed for bankruptcy, including car rental giant Hertz, shale oil and gas pioneer Chesapeake Energy Company and oil company Ultra Petroleum. Finally, Vararis couldn't stand it anymore and joined the tide of bankruptcy.
China Economic Net-With a debt of 54.3 billion yuan, this global giant company cannot resist.