Tuesday, October 24, 2017 5:28:16 PM
Seadrill Explains Why Its Shares Have No Fundamental Value
Summary
Seadrill and Seadrill's unsecured creditors file objections to the appointment of an equity committee.
In its explanation, Seadrill shows liquidation value analysis for unsecured creditors.
In case unsecured creditors vote 'no', they will have a just 5% recovery.
The only hope for shareholders to receive anything is a positive vote from unsecured creditors who lose more if they decline the current plan.
Seadrill's (SDRL) unsecured creditors and the company itself have recently filed objections (docket 289,290) to the motion for appointment of an official equity committee. The legal part of this story has already been well covered by fellow contributor WYCO Researcher. In this article, I want to focus on the financial part of Seadrill's bankruptcy, as Seadrill has provided the preliminary liquidation analysis as well as details on the post-filing marketing process.
No one wants to buy Seadrill
Seadrill Limited Ord (SDRL)
0.27 ? -0.0183 (-6.35%)
Volume: 3,064,419 @ 4:11:59 PM EDT ET
When Big Dogs learn, they get to snatch the pebble.
Recent SDRL News
- Seadrill Announces First Quarter 2024 Earnings Release and Conference Call • Business Wire • 04/23/2024 08:30:00 PM
- Seadrill Limited Files its 2023 Annual Report on Form 20-F • Business Wire • 03/27/2024 10:12:00 AM
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- Seadrill Announces Contracts for West Auriga and West Polaris in Brazil • Business Wire • 12/22/2023 04:17:00 PM
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