Report: McDermott might file for bankruptcy as soon as next week

U.S. engineering and construction services company McDermott International could be filing for bankruptcy over the course of this week.

Citing people close to the matter, Bloomberg stated the company was looking into a restructuring plan to convert its more than $4 billion debt into equity.

According to the news agency, the majority of the shares will be owned by a group of lenders. Unsecured creditors are set to receive less than ten percent of the equity.

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