Leading offshore drilling contractor Valaris Group has emerged from Chapter 11 bankruptcy having successfully completed its financial restructuring to eliminate over $7 billion in pre-petitioned debt. Valaris’ Plan of Reorganization,...

By Jessica Jaganathan (Reuters) – About one-third of the roughly 150 ships owned by companies controlled by Singapore tycoon Lim Oon Kuin and his family have been sold as part...

Seadrill Ltd and most of its subsidiaries have filed for Chapter 11 proceedings in the Southern District of Texas as part of a balance sheet restructuring which will involve a...

Offshore drilling contractor Noble has emerged from Chapter 11 bankruptcy after completing a financial restructuring to eliminate $3.4 billion in bond debt. Noble emerges with a substantially delevered balance sheet...

OSLO, Jan 26 (Reuters) – Lenders took control of Polarcus’s ships on Tuesday after the seismic surveyor defaulted on its bank loans and bonds, hit by a drop in spending by...

NYSE-listed offshore drilling contractor Pacific Drilling has filed for Chapter 11 bankruptcy in an effort to restructure $1.1 billion in bond debt. It’s the second time in three years the...

Bermuda-based Hermitage Offshore Services has announced the results of the auctioning off of its fleet of platform supply vessels and crew boats as part of its Chapter 11 bankruptcy proceedings....

by Jessica Jaganathan (Reuters) – The court-appointed manager of Singapore Ocean Tankers is seeking to reclaim about $19 million from the Lim family directors of the firm, who allegedly transferred the...

By David Wethe (Bloomberg) –Noble Corp., the offshore drilling contractor, filed for bankruptcy after the crash in crude prices made undersea oil wells too expensive to compete. The Chapter 11...

By Liz Hampton July 9 (Reuters) – A wave of oil and gas bankruptcies in North America is likely to continue this year as oil prices remain depressed and a...

Hornbeck Offshore Services has announced it has entered into a pre-packaged restructuring agreement that involves it filing for voluntary Chapter 11 bankruptcy. The announcement comes as the COVID-19 pandemic has...

File Photo: Ken Schulze / Shutterstock.com</font> Indiana-based barge company American Commercial Lines announced Tuesday an agreement with its lenders to file for Chapter 11 bankruptcy as part of a pre-packaged...

(Reuters) – U.S. oilfield services provider McDermott International Inc said on Tuesday it would file for prepackaged bankruptcy protection under Chapter 11, as it looks to cut debt that ballooned...

By Ian Graham BELFAST, Aug 5 (Reuters) – Harland and Wolff, the Belfast shipyard that built the Titanic, was put into administration on Monday after its bankrupt Norwegian owner failed to...

French offshore services company Bourbon has requested for reorganization proceedings of approximately 900 million euros in liabilities after a Chinese leasing company activated payment guarantes from the company. The request...

Offshore drilling contractor Pacific Drilling announced Monday it has emerged chapter 11 bankruptcy after successfully completing a more than a year-long reorganization. As a result, Pacific Drilling has raised $1.5 billion in...

By Tiffany Kary (Bloomberg) — A battle of so-called bankruptcy tourists is erupting in New York court. On Thursday, New York bankruptcy Judge Martin Glenn holds a hearing in the...

March 28 (Reuters) – Ocean RIG UDW Inc, a Cyprus-based rig contractor, filed for Chapter 15 bankruptcy protection in a U.S. court amid a deep and prolonged downturn in the...

By Christopher Langner (Bloomberg Gadfly) — When it comes to matters legal or bureaucratic, Singapore is swift to act. Bankruptcy, sometimes, can be even faster. Ezra Holdings Ltd., a Singapore...

By Aradhana Aravindan and Anshuman Daga SINGAPORE, March 20 (Reuters) – Oilfield services provider Ezra Holdings Ltd’s decision to file for U.S. bankruptcy protection gave investors another cause for concern...