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Ecopetrol Authorizes Liquidation Process for Two Subsidiaries – Markets Insider

BOGOTA, Colombia, Aug. 24, 2017 /CNW/ — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) reports that as part of its process of reviewing the Ecopetrol Group’s corporate structure, at its meeting of August 18, 2017, the Board of Directors authorized:

  • Taking the necessary measures under applicable law to liquidate Ecopetrol Global Capital S.L.U., a wholly-owned subsidiary of Ecopetrol S.A. domiciled in Madrid, Spain. That company is currently inactive and is no longer needed by the business group.
  • It also authorized taking the necessary measures under applicable law to liquidate ECP Oil and Gas Germany, a company domiciled in Frankfurt (Germany) that is wholly owned by Ecopetrol S.A. through its Spanish subsidiary Ecopetrol Global Ene…

    Read the full article at: http://markets.businessinsider.com/news/stocks/Ecopetrol-Authorizes-Liquidation-Process-for-Two-Subsidiaries-535379

Category: LiquidationBy Insolvency GuardianAugust 24, 2017

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Ecopetrol Authorizes Liquidation Process for Two Subsidiaries – Markets Insider

BOGOTA, Colombia, Aug. 24, 2017 /PRNewswire/ — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) reports that as part of its process of reviewing the Ecopetrol Group’s corporate structure, at its meeting of August 18, 2017, the Board of Directors authorized:

  • Taking the necessary measures under applicable law to liquidate Ecopetrol Global Capital S.L.U., a wholly-owned subsidiary of Ecopetrol S.A. domiciled in Madrid, Spain. That company is currently inactive and is no longer needed by the business group.
  • It also authorized taking the necessary measures under applicable law to liquidate ECP Oil and Gas Germany, a company domiciled in Frankfurt (Germany) that is wholly owned by Ecopetrol S.A. through its Spanish subsidiary Ecopetrol Glo…

    Read the full article at: http://markets.businessinsider.com/news/stocks/Ecopetrol-Authorizes-Liquidation-Process-for-Two-Subsidiaries-1002283864

Category: LiquidationBy Insolvency GuardianAugust 24, 2017

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PreviousPrevious post:New Insolvency Bill set to be introduced in second half of 2018 … – Channel NewsAsiaNextNext post:Pelosi: Dems in no hurry to help GOP with debt ceiling – Washington Times

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Seek restructuring support at first sign of distress – GIPC CEO urges businesses
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