Article From Offshore Engineer Magazine: Seadrill Seeks Bankruptcy Protection—Again, 2/10/2021

Offshore drilling rig contractor Seadrill has filed for bankruptcy protection at a court in the U.S. state of Texas, it said on Wednesday, the second time in four years the company has entered into so-called Chapter 11 restructuring.

Bankruptcy grunge red stamp

The Oslo-listed group controlled by Norwegian-born billionaire John Fredriksen returned to court along with several subsidiaries after failing to win consent from bank lenders to postpone payments on $5.7 billion of debts.

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