Cobalt Hits Ch. 11, Seeks To Stall Securities Litigation

By Alex Wolf ( December 14, 2017, 9:33 PM EST) -- Mired in $2.8 billion of funded debt and reeling from depressed oil and gas prices and ongoing shareholder litigation, exploration and production company Cobalt International Energy Inc. filed for Chapter 11 bankruptcy in Texas on Thursday with the expressed hope of driving a value-maximizing sale of its assets....

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