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Nuverra Environmental Solutions to File Prepack

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On April 9, 2017, Nuverra Environmental Solutions, Inc. and its subsidiaries entered into a Restructuring Support Agreement (RSA) with holders of over 80% of the Company’s outstanding 12.5%/10% Senior Secured Second Lien Notes due 2021. Under the RSA, the Supporting Noteholders have agreed, subject to certain terms and conditions, to support a financial restructuring of Nuverra pursuant to a prepackaged plan of reorganization to be filed in a case commenced under Chapter 11 of the United States Bankruptcy Code. Nuverra expects to commence a solicitation of votes for the Plan no later than April 20, 2017 and expects to commence the Chapter 11 cases on or before April 24, 2017. Read more on distressed companies.