If your investment accounts include stocks, bonds or partnership interests in companies currently or previously operating in the energy sector, particularly those in the oil and gas industries and you have incurred losses or damages as a result of those investments,
At least 50 oil and gas producers in North America have sought bankruptcy protection in the past year. At least 20 of those are/were publicly traded companies who have stock and bond investors now staring at substantial losses.
While some companies continue to operate as debtors in bankruptcy, where does that leave the individual investors that bought the bonds, stocks, or partnership interests? For many they are faced with substantial principal losses. Many investors are finding that the original principal invested is close to worthless. Some are finding that their dividend or interest income stream has been interrupted. Others may soon find that a bad situation can become even worse where partnership interests in some Master Limited Partnerships are going through debt restructuring, that process is resulting in potential negative tax consequences for some investors. Where debt is being forgiven and/or restructured and phantom “income” is attributed some investors find they not only lost their investment, they now have a tax liability to contend with as well.