News: HDX Hughes Drilling says breached certain banking covenants in place with senior financier

July 4 (Reuters) - Hughes Drilling Ltd (HDX) :

• Says has breached certain banking covenants in place with its senior

  financier

• Says company is working with its senior financier to restructure the

  company's current lending facilities

• A strategic review of the multiple accounting systems being used across the

  group is being undertaken

• Says managing director Robert Hughes to step down from board and

  director/president of all subsidiary companies effective July 1 2016