Magnum Hunter Resources Corp. and certain of its wholly-owned subsidiaries announced yesterday that its chapter 11 reorganization plan has gone effective and it has emerged from bankruptcy, the ABL Advisor reported yesterday. Magnum Hunter’s plan, which was confirmed by the U.S. Bankruptcy Court for the District of Delaware on April 18, de-leveraged substantially all of Magnum Hunter's $1 billion of pre-bankruptcy funded indebtedness and converted 100 percent of its post-filing debtor-in-possession financing into equity pursuant to a consensual debt-to-equity exchange.
