February 6, 2018 / 8:53 PM / 3 months ago

BRIEF-Ascent Resources Marcellus, Units Commence Voluntary Chapter 11 Filings

Feb 6 (Reuters) - Ascent Resources Marcellus Holdings:

* ASCENT RESOURCES MARCELLUS HOLDINGS AND ITS WHOLLY OWNED SUBSIDIARIES COMMENCE VOLUNTARY CHAPTER 11 FILINGS TO EFFECTUATE FINANCIAL RESTRUCTURING

* SAYS ‍ANTICIPATE THAT ARM ENTITIES WILL BE IN CHAPTER 11 FOR ABOUT 45 TO 60 DAYS

* SAYS UPON EMERGENCE FROM BANKRUPTCY, A NEW BOARD OF DIRECTORS WILL BE APPOINTED FOR ARM ENTITIES

* SAYS ‍UPON EMERGENCE FROM BANKRUPTCY, EXISTING MANAGEMENT TEAM TO CONTINUE TO MANAGE DAY-TO-DAY OPERATIONS OF ARM ENTITIES​ Source text for Eikon:

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