Green Touch Builders | Houston energy co. terminates acquisition deal, files Chapter 11
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March 9, 2015 By SEO Admin

Houston energy co. terminates acquisition deal, files Chapter 11

Houston-based Dune Energy Inc. (OTCBB: DUNR) has canceled a previously announced acquisition deal and filed for Chapter 11 bankruptcy protection to reorganize.

Dune said March 9 it will request approval of $10 million in debtor-in-possession financing from its bankruptcy lenders and will continue to operate its oil and gas production facilities as a debtor-in-possession. The Wall Street Journal reports that the company has assets of $229.5 million and debts of $144.2 million.

Additionally, Dune…