October 9, 2017 / 7:29 PM / 9 months ago

Seadrill seeks bankruptcy court OK to pay $137 mln to suppliers

Offshore oil rig company Seadrill Ltd on Friday urged the judge overseeing its bankruptcy to allow it to pay suppliers nearly $137 million over the objection of the U.S. Trustee, arguing it could otherwise face catastrophic consequences.

Seadrill in papers filed in U.S. Bankruptcy Court for the Southern District of Texas said its business has been running smoothly since it filed for Chapter 11 protection in mid-September. But that may not continue without a court order allowing payments to cover pre-filing debts to suppliers, Seadrill said.

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