Thread regarding CGG Veritas layoffs

Instruments to be issued as part of CGG's financial restructuring plan

Can someone who understands this be so kind as to explain what all this means ?

https://www.nasdaq.com/press-release/cgg-instruments-to-be-issued-as-part-of-cggs-financial-restructuring-plan-20180212-00025

Also is there a date they plan to "come out" of chapter 11 ?

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What is an 'Instrument'

An instrument is a tradeable asset or negotiable item such as a security, commodity, derivative or index, or any item that underlies a derivative. An instrument is a means by which something of value is transferred, held or accomplished.

In separate contexts, an instrument can refer to an economic variable that can be controlled or altered by government policymakers in to cause a desired effect in other economic indicators. It can also refer to a legal document such as a contract, will or deed.

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