August 7, 2018 / 9:04 PM / 4 months ago

Pacific Drilling noteholders slam bid to advance rival restructuring

SAN FRANCISCO (Reuters) -

Noteholders have pushed back against Pacific Drilling SA’s controlling shareholder’s bid to recoup its legal bills from the bankrupt drillship operator in exchange for filing a reorganization plan “superior” to the one put forth by the company itself.

A group of Pacific Drilling noteholders said in papers filed in U.S. Bankruptcy Court in Manhattan on Monday there was no precedent justifying the offer extended last week by Quantum Pacific Group.

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