Brookfield’s Altera Infrastructure Files for Bankruptcy in Texas

Altera Infrastructure LP, an offshore energy services provider owned by affiliates of Brookfield Asset Management, filed for Chapter 11 bankruptcy protection in Houston.

The company, which listed both assets and liabilities of between $1 billion and $10 billion, had skipped an interest payment last month after months of financial strain. It had hired Kirkland & Ellis earlier in the year to help the company resolve a cash crunch. Kirkland was listed as general counsel in the bankruptcy petition filed late Friday in US Bankruptcy Court in the Southern District of Texas.

The Aberdeen, UK-based company said earlier this month ...