Paragon Offshore plc (fka PGNPQ)

[SPARK]

They early on said this and stuck to it.. "We are extremely pleased to have reached agreements that will allow Paragon to significantly reduce its debt while preserving majority ownership for existing equity holders. With the help of our advisors and under the direction of an independent committee of our board of directors, the transaction, once implemented, will allow Paragon to eliminate more than $1.1 billion of debt and reduce annual cash interest payments by nearly $60 million, substantially increasing the strength of the company's balance sheet.

Start with that..lots more happened since then and lots more comin:http://finance.yahoo.com/news/paragon-offshore-announces-agreement-bondholders-135500192.html