Seadrill emerges from bankruptcy

Offshore driller Seadrill Limited has emerged from Chapter 11 after successfully completing its reorganization pursuant to its chapter 11 plan of reorganization.

It is worth reminding that, following the launch of the process last September, the U.S. Bankruptcy Court for the Southern District of Texas overseeing the Seadrill’s chapter 11 cases entered an order confirming the driller’s plan of reorganization in April 2018.

In a statement on Monday, July 2 Seadrill informed that all conditions precedent to the restructuring contemplated by the plan have been satisfied or otherwise waived.

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