North Atlantic Drilling: No Recovery for Current Shareholders
Rig firm North Atlantic Drilling said in a statement:
North Atlantic Drilling Ltd., a majority owned subsidiary of Seadrill Limited (SDRL), announced holders of it common stock will receive no recovery in Chapter 11 process
Seadrill earlier announced it had filed for Chapter 11 bankruptcy and expects current Seadrill shareholders to receive 2 pct of the post-restructured equity Related stories:Seadrill files for chapter 11 bankruptcy Sevan Drilling (S53.SG): No recovery for current shareholders under chapter 11 cases
Reporting by Ole Petter Skonnord
