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Canacol Energy Filed for Relief Under Chapter 15 of the U.S. Bankruptcy Code
Globenewswireยท 2025-11-24 13:10
Core Points - Canacol Energy Ltd. has filed for relief under Chapter 15 of the U.S. Bankruptcy Code to protect its U.S.-based assets and facilitate cooperation with foreign judicial proceedings [1][2] - The company is seeking recognition of its Canadian proceeding under the Companies' Creditors Arrangement Act (CCAA) as a foreign main proceeding [1][2] - A hearing on the recognition motion is scheduled for December 11, 2025, after provisional relief was granted by the U.S. Bankruptcy Court [3] Company Overview - Canacol Energy Ltd. is a natural gas exploration and production company primarily operating in Colombia [4] - The company's shares are traded on multiple exchanges, including the Toronto Stock Exchange, OTCQX in the U.S., and the Bolsa de Valores de Colombia [4]