EV Energy Partners filed for bankruptcy Monday with a prepackaged restructuring plan that calls for senior bondholders to swap debt for equity in the new business, WSJ Pro Bankruptcy reported. The Houston-based company said yesterday in a Securities and Exchange Commission filing that it plans to complete its restructuring, which had been expected, by June 22. EV Energy Partners LP earlier said the reorganization would, among other things, eliminate $343 million of principal and accrued interest owed on senior bonds due 2019 in exchange for those creditors getting 95 percent of the company’s equity when it emerges from bankruptcy. Its chapter 11 petition, filed in U.S. Bankruptcy Court in Wilmington, Del., the company listed assets of less than $100 million and debts between $500 million to $1 billion in liabilities. EV Energy has assets in New Mexico, Texas, Michigan and Pennsylvania.
