Bankruptcy watchdog wants Seadrill to keep cash with U.S. banks [Reuters]
Seadrill Limited Common Shares (SDRL)
Last seadrill limited common shares earnings: 8/25 04:01 pm
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Source: Reuters
Bankruptcy watchdog wants Seadrill to keep cash with U.S. banks | Reuters 1 Min Read The $1 billion in cash held by Seadrill Ltd could be put at risk by the bankrupt oil rig company’s plan to leave much of the money with foreign banks while it works on restructuring, according the U.S. government’s bankruptcy watchdog. In court papers filed on Wednesday, the U.S. trustee argued Seadrill’s cash-management plan should be rejected because it is at odds with the Bankruptcy Code requiring debtors to keep funds with financial institutions backed by the U.S. government. To read the full story on WestlawNext Practitioner Insights, click here: bit.ly/2xJGuA7 All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays. © 2017 Reuters. All Rights Reserved. Bankruptcy watchdog wants Seadrill to keep cash with U.S. banks The $1 billion in cash held by Seadrill Ltd could be put at risk by the bankrupt oil rig company’s plan to leave much of the money w
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