Seadrill shelled out huge sums on legal fees ahead of bankruptcy

Long before John Fredriksen's drilling company filed for US Chapter 11 bankruptcy protection against its creditors, the company spent vast sums on lawyers, reports Norwegian media Dagens Næringsliv.

by OLE ANDERSEN

Before the John Fredriksen-controlled driller Seadrill applied for insolvency at a Texas court in September last year, US law firm Kirkland & Ellis were paid USD 47 million by the company, reports Norwegian media Dagens Næringsliv Thursday after a review of Seadrill's payments.

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