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griff100

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griff100

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Re: dirkv post# 2325

Monday, 07/02/2018 1:53:17 PM

Monday, July 02, 2018 1:53:17 PM

Post# of 2607
Judge Jones, who confirmed Seadrill's chapter 11 plan, said broad-ranging grants of legal immunity to leaders, lenders, advisers and others were necessary to allow the company to focus on "commercial success."

A lawyer for Seadrill said shareholders are "out of the money," meaning there isn't enough value in the company to cover the debts and leave something for equity stakeholders.

Meaning these shares will be worthless and new shares will be issued...but not to current shareholders.
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