Regulations and Government
A Casualty of Low Oil Prices, CHC Files for Bankruptcy
Company “expects day-to-day operations to continue without interruption” and has “sufficient liquidity” to “maintain its continuing business operations."

Global offshore, gas and petroleum helicopter services company CHC and its Heli-One maintenance subsidiary filed for Chapter 11 bankruptcy reorganization this morning in the Northern District of Texas. The move comes days after the fatal crash of a company Airbus Helicopters EC225 that killed 13 in Norway on April 29 and weeks after CHC said it could not make a payment of $46 million in interest on $1 billion worth of bonds. The payment is due later this month.


Loading…