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Over 60 entities have filed for bankruptcy protection as a result of the current market downturn despite the recent marginal recovery in oil prices. Exco Resources, Inc. of Dallas, TX is the latest and one of at least five to file last week. Prices of $25/bbl in February have rebounded to around $45/bbl but the increase is not sufficient to stave off restructuring for many energy producers who require a market in the $55/bbl range to continue operating. It is noteworthy that some failing organizations are considering making creditors into shareholders as a way of shedding debt. Bankruptcy Attorney David R. Chenelle forwards this Reuters.com article with more information: http://www.reuters.com/article/us-usa-energy-bankruptcies-idUSKCN0Y42BK

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