January 13, 2018 / 1:45 AM / 9 months ago

Bankrupt Pacific Drilling, noteholders fight over probe of its books

Bankrupt drillship operator Pacific Drilling SA shot back on Thursday at noteholders who want a court order to allow them to probe its books, saying they are angling for an advantage ahead of restructuring plan negotiations.

Pacific Drilling in court papers said it has already agreed to give much of the information the noteholders are seeking. Being forced to go through a court-approved review would suck up management’s time with hundreds of hours of depositions when it is in an “all-hands-deck effort” to operate and reorganize the company.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2D9AkMT

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