Seadrill could be headed out of Chapter 11

A court in Houston approved Seadrill's rehabilitation plan Tuesday, and the company expects to leave its Chapter 11 status behind within 90 days.

BY KATRINE GRØNVALD RAUN, SHIPPINGWATCH

A judge at a court in US city Houston has approved rig company Seadrill's rescue plan, and the company is now in the process of leaving Chapter 11, according to a notice to the Oslo Stock Exchange. The plan secured almost full support from creditors and shareholders, and it will give Seadrill USD 1.08 billion in fresh capital.

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Seadrill made huge impairment in 2017
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Seadrill gets full support from creditors for rescue plan
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