Almatis BV, a producer of specialty alumina products, filed an agreement on July 23 underpinning a revised reorganization plan that will allow the Chapter 11 case to end consensually and avoid a protracted battle between senior and junior secured creditors.
For Tammy Wolfer of Louisiana, the worst part about the oil slick looming off the Gulf of Mexico coast isn’t that it cut her income from working at a marina and ruined plans to buy a house this year. The worst part is waiting to see where and when the oil will arrive on shore.
BP Plc faces the risk of an even bigger oil spill as it attempts to drill two so-called relief wells to plug a leak on the seabed of the Gulf of Mexico that’s gushing 5,000 barrels a day into the ocean.
BP Plc ’s latest effort to prevent oil leaks from damaging wildlife and tourism on the U.S. coast has been stymied as cold and pressure a mile below the surface of the Gulf of Mexico formed ice that clogged a containment device.