SAO PAULO (AP) — OGX Petroleo e Gas Participacoes S.A. of Brazilian tycoon Eike Batista says negotiations with holders of $3.6 billion in bonds has ended without an agreement.
The company says on its website Tuesday that months of negotiations with creditors failed to lead to a debt-restructuring agreement. It did not say why.
OGX is now expected to prepare a so-called judicial recovery plan aimed at suspending payment of its debt for 180 days.
Earlier this month, OGX missed a $45 million interest payment on the $3.6 billion worth bonds in the hands of creditors.
OGX says on its website that it needs $250 million "to satisfy near-term liquidity through the first quarter of 2014. Without new funding the company says it expects to run out of cash by late December.
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NYS Attorney General Eric Schneiderman has obtained a court order to prevent a Buffalo woman from ever selling puppies again.
A 24-year-old man being sought after his mother and brother were found dead in their Lehigh Acres, Florida home may be heading to Buffalo.
Around 5 p.m. on Thursday near the corner of Model City Road and Rt. 104, police say 84-year-old Jose Martinez was hit by a car driven by 82-year-old Maura Nolan. Both are residents of Lewiston.
Intense Lk Snow North early heads back to Ski Country Late; General Snow Saturday
It appears snowy weather scared off about half the crowd expected at Thursday night's Common Core forum at WNED TV studios in Buffalo.
GingerBread Lane, a 300-square-foot village made entirely of edible gingerbread, icing and candy, has been designated world's largest gingerbread village by Guinness World Records.