Seadrill Limited first day hearing

11 Feb 2021
  • 141166,
  • US Bankruptcy Court for the Southern District of Texas,
  • Judge: David Jones
  • Reporting by: Pat Holohan

Summary +

Seadrill Limited filed for Chapter 11 on Wednesday (10 February), joining a spate of affiliates that have recently filed bankruptcy petitions. The company, with 46% of shares, is the largest equity holder of Seadrill Partners which has been in Chapter 11 since December attempting to negotiate a balance sheet restructuring with its creditors.

Seadrill Limited has not yet filed key information in its bankruptcy case, including a first day declaration, but its first day hearing is set for Friday, 12 February at 9am CT.

This is Seadrill Limited’s second Chapter 11 case in recent years, having previously confirmed a plan of reorganization in April 2018 that extended its bank debt by five years on average while bringing in USD 1.06bn in new capital.

Your bloggers today are Pat Holohan and Dietrich Knauth.

Live feed