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Anil Ambani's GCX files for bankruptcy; senior bondholders to take control of company

Updated : September 17, 2019 06:42 AM IST

GCX missed payment on $350 million 7 percent bonds that matured on August 01
Company initiated a pre-packaged Chapter 12 restructuring after clearance by 75 percent of lenders
As part of its chapter 12 filing GCX will also compensate employees as usual
Anil Ambani's GCX files for bankruptcy; senior bondholders to take control of company

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