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DMX s Prayer Vigil Assembles Hundreds: Family, Friends, And Fans sunny943.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sunny943.com Daily Mail and Mail on Sunday newspapers.
Seadrill proposes debt write off of $4.8 billion PUBLISHED BY
Seadrill Ltd., a deepwater drilling contracting company, owned by billionaire
John Fredriksen, said it is ready to write off a debt of over $4.8 billion, giving lenders a 99 percent stake in the company, according to
Finansavisen.
The debt write-off proposal was presented to the US bankruptcy court in Texas ahead of the Easter holidays. The offer means that 99 percent of the ownership of Seadrill will pass on the lenders with just 1 percent left with the current shareholders.
According to Finansavisen, the proposed write-off will help Seadrill cut its debt by more than 86.5% to $750 million.
AméricaTeVé owner exits Chapter 11 bankruptcy with plan to buy Radio Caracol 1260 AM bizjournals.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bizjournals.com Daily Mail and Mail on Sunday newspapers.