August 4, 2018 / 12:07 AM / 3 months ago

Pacific Drilling could get rival Ch. 11 plan by reimbursing legal costs

Pacific Drilling SA’s controlling shareholder is asking the bankrupt drillship operator to reimburse its legal bills in exchange for filing a reorganization plan it claims will be “superior” to the one put forth by the company on Wednesday.

Quantum Pacific Group detailed its offer in papers filed on Wednesday and Thursday in U.S. Bankruptcy Court in Manhattan, saying it was entitled to recoup its costs because it played a pivotal role during mediation in pushing the company’s noteholders to commit to a reorganization plan.

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