Correct me if I'm wrong!
The distribution:
Fisrt, 15 millions cash to shareholders.
Then, lenders's claim(550 millions) + Wind Down Funding Amount (max 85 million) + interests payments + management's bonus
Then, Everything left (if there are any) will go to shareholders.
Now some math:
To make it easy, by reducing the 200 million in escrow.
So lenders's claim: 350 million
So far, the sale prices for assets already reached at least 200 millions: Hercules 267 (3 millions), Hercules 261, 262, 266 (65millions), Triumph and Resilience(130 millions) , and other small cold rigs.
I think their cash should be in the range of 150-170 million?
Anyone know how much will be the managemnts's bonus? and lenders's interests?
then we should predict the price for the remaining assets not yet sold, then we shall know how much (or will there be anything) left for shareholders.
