Seadrill is expected to file for Ch.11 in Delaware on or before September 12 because U.S. bankruptcy laws are “management friendly”.
Seadrill does not want Bermuda to be the primary bankruptcy jurisdiction, because an independent liquidator could be appointed to liquidate the company.
Despite having shareholder equity of $18.73 per share, shareholders are expected to get little or no recovery.
There could be litigation on cross-border insolvency issues.
How much of 0 do you want, anyway? Have you paid attention and read posts? Do you do DD or are you a Big Dog who does not believe in DD?
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