Magnum Hunter’s Latest Woes: More Investor Unrest, $29M Payment Due

MDN has recounted numerous Magnum Hunter Resources (MHR) woes, including a threat to de-list their stock on the New York Stock Exchange (see Magnum Hunter Stock Avg Falls Below $1, Receives NYSE Warning), the threat of a takeover by a plucky young investor who owns 5% of the company (see Activist Investor Threatens Magnum Hunter with Takeover Unless…), and rumors the company may be preparing to file for bankruptcy protection (see Magnum Hunter: Preparing to Sell, or Filing for Bankruptcy?). A few new woes to add to the list: Another investor is threatening to form a coalition to “protect our interests” (i.e. force MHR to sell), and MHR needs to make a $29 million interest payment on bonds, due Nov. 15. The bondholders have hired lawyers in anticipation they may not get paid…

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