Thursday, September 21, 2017

"Seadrill Bondholders Are Said to Hire Stroock in Debt Plan Fight" $SDRL

"A group of Seadrill Ltd. bondholders has hired Stroock & Stroock & Lavan LLP as legal counsel to fight a restructuring plan that they argue leaves them with an unfairly low share of the offshore drilling company... The group’s goal is to accumulate one-third of the $2.3 billion in unsecured bonds, which would allow the investors to disrupt the plan presented last week by Seadrill... The group is close to reaching that portion of the unsecured debt, one of the people said."

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