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Houston energy co. files second Chapter 11 bankruptcy in two years

Houston-based Vanguard Natural Resources Inc. (OTC-QX: VNRR) has filed for Chapter 11 bankruptcy protection again, this time with nearly $1.2 billion in debt.

Vanguard and 11 other affiliated companies filed the voluntary Chapter 11 petitions on March 31 in Houston. The main filing lists more than $1.19 billion in debt, nearly $1.48 billion in assets and 1,000 to 5,000 creditors. Source: Houston Business Journal

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