UPDATE 1-Seadrill postpones court hearing for restructuring talks [Reuters]
Seadrill Limited Common Shares (SDRL)
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Source: Reuters
UPDATE 1-Seadrill postpones court hearing for restructuring talks | Reuters Reuters Staff 3 Min Read (New throughout, adds details on plan talks) By Nerijus Adomaitis and Tom Hals OSLO, Jan 25 (Reuters) - Drilling rig company Seadrill said in a court filing it postponed an initial hearing on its restructuring plan to Feb. 7, which sources told Reuters will give the company more time to consider alternative restructuring plans. Once the largest drilling rig operator by market value, Seadrill filed for bankruptcy protection in Texas on Sept. 12 after being hit hard by cutbacks in oil company investment following a steep drop in crude prices. Wednesday’s court filing also said the deadline for objecting to Seadrill’s plan had been extended to Feb. 1 for the official committee of unsecured creditors, an ad hoc group of bondholders and Barclays Capital. The ad hoc group of bondholders and Barclays Capital have proposed alternative restructuring plans, and the ad hoc group posted a cash dep
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