Frac sand miner Hi-Crush completes bankruptcy restructuring
Published: Tuesday, 13 October 2020
Frac sand miner and distributor Hi-Crush has completed its bankruptcy restructuring under the Chapter-11 provisions of US law, meaning that the company will continue to operate as a single entity.
United States-based Hi-Crush announced on Tuesday October 13
that it had eliminated around $450 million of debt from its
balance sheet, as well as $76 million per year in interest
expenses and lease payment obligations. Ownership of the
company has passed into the hands of...