Seadrill’s reorganization plan gets full support from creditors

first_imgJohn Fredriksen’s offshore drilling company Seadrill has obtained full support from its creditors and shareholders for the reorganization plan aimed at reducing the driller’s massive debt.Seadrill Limited and its 85 affiliated debtors each filed a voluntary petition for relief under Chapter 11 of the U.S. Bankruptcy Code on September 12, 2017.Meanwhile, Seadrill continued all normal day-to-day operations and continued serving customers without interruption. The court gave the company authority to continue to pay employee wages and benefits without interruption, continue to utilize its cash management system and continue to pay all suppliers and vendors in full under normal terms.On Monday, April 9 the company announced the voting results for its Chapter 11 plan of reorganization filed with the U.S. Bankruptcy Court for the Southern District of Texas. The near unanimous support from the voting ballots reflects the overwhelming support for the company’s plan and reorganization efforts, Seadrill said on Monday.Of the 530 ballots cast by creditors voting on the plan, 529 or 99.8% of all voting creditors aggregated across all creditors classes, excluding ballots cast by holders of interests, voted to accept the plan.Shareholders voted approximately 29,000,000 shares in the company, with 24,983,115 or 86% of shares voted to accept the plan. The company noted that the plan received approval from every single class of creditors and holders of interests entitled to vote, far exceeding the required thresholds.The voting results demonstrate the broad-based support by creditors and shareholders of the company’s reorganization transaction, which provides more than $1.08 billion of new capital, defers all secured credit facilities’ maturities by approximately five years, and provides significant covenant relief.A confirmation hearing on the plan is scheduled to begin on April 17, 2018.last_img read more


first_imgA Donegal coroner has asked Gardai to issue arrest warrants to more than 20 people who failed to turn up for jury service.Coroner John Cannon was forced to delay an inquest into the deaths of two young men for more than an hour because not gather a jury.The families of tragic Seamus McBride, 25, and PJ Crerand were forced to wait along with a number of Gardai and other witnesses while a jury was found. Coroner Cannon, who was sitting at Letterkenny Coroner’s Court yesterday, was finally able to start the double-inquest when he mustered six jury members.He revealed that a total of 30 possible jury members had been contacted but just two had come forward to Gardai to say they could not attend.Coroner Cannon said this was simply not acceptable.He said people seemed to think that it was their decision if they decided to turn up but it was not.He reminded the court that people had an obligation under law to appear when summoned for jury duty.He reminded the court that the penalty for non-attendance by a jury member was a fine of €500.He instructed Garda Sgt Brigid McGowan, who was conducting the inquest for the State, to arrange to have the arrest warrants issued to the members of the public who did not appear for jury service.CORONER ORDERS ARREST WARRANTS FOR NON-SHOW JURY MEMBERS was last modified: September 28th, 2012 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:arrest warrantscoronerinquestJohn Cannonjurylast_img read more

Video: Kepler’s Alien Dance

first_imgCheck it out: all the planets in multiple-transit systems that NASA’s Kepler space telescope has discovered so far. Produced by Daniel Fabrycky, a professor of astronomy and astrophysics at the University of Chicago, the visualization reveals the relative sizes of the orbits and planets in systems where more than one planet orbits a star. That’s a whopping 1471 planets in 588 systems—nearly half of the 3538 potential planets that Kepler has discovered to date. The colors correspond to each planet’s distance from its central star. Our own solar system is in gray, and KOI-351, the first seven-planet system Kepler found, is the most colorful. So sit back, relax, and enjoy the dance of 1471 potential planets. *Update, 7 November: This article now includes the number of potential planets in the video and the number of potential planets that Kepler has discovered to date.Sign up for our daily newsletterGet more great content like this delivered right to you!Country *AfghanistanAland IslandsAlbaniaAlgeriaAndorraAngolaAnguillaAntarcticaAntigua and BarbudaArgentinaArmeniaArubaAustraliaAustriaAzerbaijanBahamasBahrainBangladeshBarbadosBelarusBelgiumBelizeBeninBermudaBhutanBolivia, Plurinational State ofBonaire, Sint Eustatius and SabaBosnia and HerzegovinaBotswanaBouvet IslandBrazilBritish Indian Ocean TerritoryBrunei DarussalamBulgariaBurkina FasoBurundiCambodiaCameroonCanadaCape VerdeCayman IslandsCentral African RepublicChadChileChinaChristmas IslandCocos (Keeling) IslandsColombiaComorosCongoCongo, The Democratic Republic of theCook IslandsCosta RicaCote D’IvoireCroatiaCubaCuraçaoCyprusCzech RepublicDenmarkDjiboutiDominicaDominican RepublicEcuadorEgyptEl SalvadorEquatorial GuineaEritreaEstoniaEthiopiaFalkland Islands (Malvinas)Faroe IslandsFijiFinlandFranceFrench GuianaFrench PolynesiaFrench Southern TerritoriesGabonGambiaGeorgiaGermanyGhanaGibraltarGreeceGreenlandGrenadaGuadeloupeGuatemalaGuernseyGuineaGuinea-BissauGuyanaHaitiHeard Island and Mcdonald IslandsHoly See (Vatican City State)HondurasHong KongHungaryIcelandIndiaIndonesiaIran, Islamic Republic ofIraqIrelandIsle of ManIsraelItalyJamaicaJapanJerseyJordanKazakhstanKenyaKiribatiKorea, Democratic People’s Republic ofKorea, Republic ofKuwaitKyrgyzstanLao People’s Democratic RepublicLatviaLebanonLesothoLiberiaLibyan Arab JamahiriyaLiechtensteinLithuaniaLuxembourgMacaoMacedonia, The Former Yugoslav Republic ofMadagascarMalawiMalaysiaMaldivesMaliMaltaMartiniqueMauritaniaMauritiusMayotteMexicoMoldova, Republic ofMonacoMongoliaMontenegroMontserratMoroccoMozambiqueMyanmarNamibiaNauruNepalNetherlandsNew CaledoniaNew ZealandNicaraguaNigerNigeriaNiueNorfolk IslandNorwayOmanPakistanPalestinianPanamaPapua New GuineaParaguayPeruPhilippinesPitcairnPolandPortugalQatarReunionRomaniaRussian FederationRWANDASaint Barthélemy Saint Helena, Ascension and Tristan da CunhaSaint Kitts and NevisSaint LuciaSaint Martin (French part)Saint Pierre and MiquelonSaint Vincent and the GrenadinesSamoaSan MarinoSao Tome and PrincipeSaudi ArabiaSenegalSerbiaSeychellesSierra LeoneSingaporeSint Maarten (Dutch part)SlovakiaSloveniaSolomon IslandsSomaliaSouth AfricaSouth Georgia and the South Sandwich IslandsSouth SudanSpainSri LankaSudanSurinameSvalbard and Jan MayenSwazilandSwedenSwitzerlandSyrian Arab RepublicTaiwanTajikistanTanzania, United Republic ofThailandTimor-LesteTogoTokelauTongaTrinidad and TobagoTunisiaTurkeyTurkmenistanTurks and Caicos IslandsTuvaluUgandaUkraineUnited Arab EmiratesUnited KingdomUnited StatesUruguayUzbekistanVanuatuVenezuela, Bolivarian Republic ofVietnamVirgin Islands, BritishWallis and FutunaWestern SaharaYemenZambiaZimbabweI also wish to receive emails from AAAS/Science and Science advertisers, including information on products, services and special offers which may include but are not limited to news, careers information & upcoming events.Required fields are included by an asterisk(*)last_img read more