September 5, 2018 / 10:35 PM / 9 months ago

Seadrill says needs bankruptcy court to address interest payments

Offshore oil and gas drilling company Seadrill Ltd said in court papers on Wednesday it must urgently remedy a payment problem for some creditors who got new notes as part of its plan for an exit from bankruptcy.

Seadrill, once the world’s largest offshore driller by market capitalization, filed for Chapter 11 protection in U.S. Bankruptcy Court in Houston in September, after running into trouble repaying debts amassed during boom years to buy new rigs.

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