Put our Chapter 11 expertise & analysis to work for you with BankruptcyData's Plan Summary of Seadrill Limited's U.S. Bankruptcy Court-confirmed Second Amended Joint Chapter 11 Plan (As Modified).
We filter down all of the information to produce a detailed yet easy-to-digest Plan Summary report. This concise synopsis offers a reliable overview of the entire bankruptcy reorganization process without bogging you down with hundreds of pages of "legalese."
Seadrill Limited's Plan Summary explains, "The Plan, as contemplated by Seadrill’s Restructuring Support Agreement, will re-profile the Bank Facility obligations to eliminate near-term amortization obligations and extend maturities; reduce overall leverage through equitizing the Unsecured Bonds, unsecured interest rate and currency swap claims, and other non-assumed lease and contractual obligations; result in a $1.08 billion new capital injection; leave employee, customer, and ordinary trade Claims largely Unimpaired; and reorganize the Seadrill corporate structure to support the re-profiled Bank Facilities and new capital injection. The Debtors believe that the transactions contemplated by the Restructuring Support Agreement are the best available restructuring terms and will allow Seadrill to succeed as a restructured company after emergence from these chapter 11 cases and will afford meaningful runway to allow the market to recover."