Weatherford’s reorganization plan approved by bankruptcy court

Weatherford International PLC (NYSE: WFT), which has its main U.S. office in Houston, has taken a major step forward in its Chapter 11 bankruptcy process.

The U.S. Bankruptcy Court for the Southern District of Texas confirmed the company’s latest plan of reorganization on Sept. 12, according to a press release. The plan’s effective date is expected to occur before the end of the year, per the release, meaning Weatherford could exit bankruptcy less than six months after filing in July.



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