Several subsidiaries of Trinity Exploration and Production – an E&P company focused on Trinidad & Tobago offshore and onshore projects – have filed for bankruptcy protection, according to Reuters.
A statement from Trinity, the debt-laden parent company, named nine subsidiaries that have filed notices of intention to make proposals to creditors under Trinidad & Tobago’s bankruptcy laws.
With the filing the firm should be able to continue operating while it tries to work out settlements with creditors.
In a statement, San Fernando, Trinidad-based Trinity said it “continues to pursue a wider financial restructuring solution” to its problems.
