Seadrill gets court approval for rescue plan – will leave Chapter 11 within 60 days

John Fredriksen's strained drilling company Seadrill has received final approval of its restructuring plan by a court in Texas. The company now expects to exit bankruptcy protection within 60 days.

Photo: Reuters File Photo/Reuters/Ritzau Scanpix

Seadrill's comprehensive restructuring plan has been confirmed by a court in Texas where the company has been under Chapter 11 bankruptcy protection with the aim of reorganizing its extensive debt.

Earlier this month, Seadrill's lenders approved the plan, which received final approval at a hearing in the bankruptcy court in Texas on Tuesday.

Read the whole article

Get 14 days free access.
No credit card required.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Maersk unveils design of methanol vessels

For five years, Maersk has been working on developing a new vessel design, which can increase the energy efficiency of its fleet by 20 percent. The first eight vessels are planned to sail on green methanol from 2024.

DHL extends contract with CEO Appel and names successor

Deutsche Post DHL Group, which includes logistics branch DHL Global Forwarding, announces a change in top leadership. Current CEO Frank Appel, who's been heading DHL for more than 13 years, has his contract extended until 2023, after which his replacement will take over. Being updated.

Further reading

Related articles

Latest news

See all jobs