April 16, 2018 / 9:43 PM / 7 days ago

Seadrill unsecured creditors rally behind Ch. 11 restructuring plan

Seadrill Ltd’s unsecured creditors have thrown their support behind the drillship operator’s plan for emerging from bankruptcy after changes to the proposal increased their shares of rights offerings and a cash pool.

Seadrill’s official committee of unsecured creditors in court papers filed on Friday said its members overwhelmingly voted for the plan and its confirmation is in the best interests of all of the company’s stakeholders.

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