SDLP - Seadrill Partners LLC Announces Emergence from Chapter 11
Seadrill" or the " Company") announces today (the " Effective Date") that it has emerged from Chapter 11 after successfully completing its reorganization pursuant to its Chapter 11 plan of reorganization (the " Plan"). All conditions precedent to the restructuring contemplated by the Plan have been satisfied or otherwise waived. The Plan has equitized approximately $2.8 billion in funded debt obligations, leaving the Company debt free on emergence. As part of the Plan, New Management Services Agreements were entered into for the management of the Company's offshore drilling units and a Transi...