Magnum Hunter’s Bankers Say Get $65M in Cash by July 10, Or Else

Magnum Hunter Resources’ (MHR) creditors (the bankers) want to be sure the company has enough money on hand to a) pay them back, and b) stay out of bankruptcy. So the creditors gave MHR a deadline of last Friday, June 19th, to make sure they have $65 million cash on hand. MHR couldn’t do it–so the creditors gave them a new deadline–July 10th. The company says they’ve already raised $55.6 million–so they just need a measly $9.4 million to meet the requirement by the new deadline. Or else…

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