Valaris emerges from Chapter 11 free of $7.1bn of debt

Offshore drilling contractor Valaris has completed its financial restructuring and emerged from the Chapter 11 bankruptcy by eliminating $7.1 billion of debt. Valaris filed for bankruptcy protection in an attempt to restructure its debt, amid a challenging market environment, back … Read More

Bankruptcy court approves Noble’s reorganization plan

Offshore drilling contractor Noble Holding Corporation has received approval from a bankruptcy court for its reorganization plan. Noble Corp. filed for Chapter 11 bankruptcy protection to restructure its debt in early August 2020 following a severe downturn in commodity prices … Read More

Bouchard Transportation files for Chapter 11

US petroleum barge company Bouchard Transportation has filed voluntary petitions to restructure under chapter 11 of the United States Bankruptcy Code in the Bankruptcy Court for the Southern District of Texas. Bouchard intends to fund the chapter 11 process with debtor-in-possession financing to … Read More

Valaris gains access to additional liquidity

Offshore drilling contractor Valaris has executed a new term loan credit agreement, gaining access to additional liquidity as it is working through its Chapter 11 bankruptcy process. Valaris voluntarily filed for a Chapter 11 financial restructuring in the United States … Read More