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Why would you buy this?

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MisterEC Member Level  Tuesday, 11/07/17 02:56:04 PM
Re: MisterEC post# 1952
Post # of 2555 
Why would you buy this?

Quote:

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.



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