On 15 January 2016, CHC offered 31,000,000 shares at US$5.17. On 5 May 2016, the company filed for Chapter 11 Bankruptcy. CHC's bankruptcy was attributed to recent drops in the price of oil having negatively impacted revenue, making it unable to service the company's high burden of debt; other helicopter operators were also reported to be struggling under the prevailing economic conditions of the period as well. Reflecting the company's drop in performance, CHC's share value dropped from US$176.10 on 17 November 2014 to US$0.45 by 17 June 2016. During July 2016, a Texas court allowed CHC to shed 65 helicopters from its financial obligations, the majority of its Eurocopter AS332 Super Puma fleet. On 1 March 2017, a reorganised CHC emerged, relaunching its brand and web presence. In December 2019, a 18 month-long dispute between CHC and British union staff over pay was settled.