BRIEF-Pacific Exploration And Production says it has filed for recognition proceeding under Law 1116

Tue May 3, 2016 7:30pm EDT
 
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May 3 (Reuters) - Pacific Exploration And Production Corporation

* Announces that it has filed for recognition proceeding under Law 1116 in connection with previously announced comprehensive restructuring involving Catalyst Capital and Pacific's noteholders and lenders

* All operations of subsidiaries including Colombian branches, are expected to continue normal throughout process

* Employees will continue to be paid throughout this process, without disruption

* Expects regular payments to be made to all suppliers, trade partners, contractors

* Restructuring transaction has received support from creditors Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)