Dome Petroleum suspended some debt payments.

The move by Dome comes 11 months after a financial restructuring pulled the Canadian firm from the brink of bankruptcy. The company has debts totaling $3.79 billion U.S. ($5.3 billion Canadian). Dome said it will continue to pay interest but will not repay principal on some of its loans. Secured lenders will receive interest and principal payments, but unsecured lenders will not even receive interest payments. Capital loans will go unpaid, dividends will not be paid on preferred shares and there will be no redemption of preferred shares. The company blamed the action on falling oil prices.

Copyright © 2019, Los Angeles Times
EDITION: California | U.S. & World