OSLO: Offshore drilling contractor Seadrill plans to launch a long-awaited Chapter 11 debt restructuring in mid-September, and aims to raise $1 billion in new capital, the company said on Thursday. Once the biggest offshore rig firm by market value and the crown jewel in the business empire of Norwegian billionaire John Fredriksen, Seadrill shares have…
(Adds analyst, debt and liabilities estimate) By Nerijus Adomaitis OSLO, Aug 24 (Reuters) – Offshore drilling contractor Seadrill plans to launch a long-awaited Chapter 11 debt restructuring by Sept. 12, and aims to raise $1 billion in new capital, it said on Thursday. Once the biggest offshore rig firm by market value and the crown…
Shutterstock photo By Nerijus Adomaitis OSLO, Aug 24 (Reuters) – Offshore drilling contractor Seadrill plans to launch a long-awaited Chapter 11 debt restructuring by Sept. 12, and aims to raise $1 billion in new capital, it said on Thursday. Once the biggest offshore rig firm by market value and the crown jewel of…
Mining services business Ausdrill has delivered a solid full-year result on the back of strong performance in its gold operations in Africa, and is targeting further growth in the year ahead. Perth-based Ausdrill announced a 53.3 per cent surge in net profit to $31.4 million for the 2017 financial year, with revenue up 4.5 per…
SINGAPORE – A new law to consolidate Singapore’s personal bankruptcy and corporate insolvency regimes will be introduced in 2018, to further boost the Republic’s status as a leading centre for cross-border debt restructuring, Home Affairs and Law Minister K. Shanmugam said on Thursday (Aug 24). The omnibus Insolvency Bill, which is expected to be enacted…
Shareholders in Spotless Group who are refusing to accept the $1.15 per share cash takeover offer from predator Downer EDI won’t be paid any final dividend, as the Downer-controlled Spotless board puts the squeeze on the outliers. Spotless on Thursday announced it had tumbled to a bottomline loss of $348 million for 2016-17, after big…
Paul Harris with Hustler back in 2002 following their Group I win. A Group I-winning horse trainer who had his licence revoked when he was declared bankrupt will take his first runner to the races in five years on Friday. Paul Harris was forming a formidable training record until everything came crashing down in 2012…
By TOM LATEK and MARK MAYNARD, Kentucky Today FRANKFORT, Ky. (KT) Even with the state facing a projected budget shortfall and an enormous public pension debt, casino gambling remains off the table. I havent heard any discussion of that issue and no one has talked to me about it, said Senate Minority Leader Ray…
In an ASX statement released today, SurfStitch Group Ltd announced administrators FTI Consulting has been appointed, with its voluntary administration effective immediately. The company had been beleaguered with several legal issues, including two class actions, an investigation by corporate watchdog ASIC and litigation as well. In a company statement SurfStitch says: the companies reluctantly made…