McDermott International Inc. (MCDIF)

[investisseur101]

As a result of the upcoming Chapter 11 filing, McDermott expects to be delisted from the New York Stock Exchange within the next 10 days. McDermott common stock will continue to trade in the over-the-counter marketplace throughout the pendency of the Chapter 11 process. The shares are proposed to be cancelled as part of McDermott's restructuring.



"The shares are PROPOSED to be cancelled" (It's a possibility).
Is it mentioned in another news that it will be canceled for sure.
The restructuring transaction. I read that if it is done, it will be done once The restructuring transaction is finished. There seem to be delays due to the Covid. They are in remote communications which complicates the process. I'm thinking about whether I continue or not, I will see the market reaction tomorrow. graphically it's very bullish.



http://www.mcdermott-investors.com/news/press-release-details/2020/McDermott-International-Inc-Announces-Comprehensive-Prepackaged-Restructuring-Transaction-to-De-Lever-Balance-Sheet-and-Immediately-Position-Company-for-Long-Term-Growth/default.aspx