February 1, 2018 / 12:37 AM / 2 months ago

Noteholders push for mediator in Pacific Drilling bankruptcy

Noteholders of Pacific Drilling SA called on Tuesday for the appointment of a mediator in the drillship operator’s bankruptcy, arguing the company’s restructuring efforts have gained no ground in 18 months.

The noteholders in court papers said Pacific Drilling has yet to produce a valuation of its business to help with crafting a restructuring plan since talks began in May 2016 on how to potentially reorganize the company.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2ns3bSS

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