Luxembourg drilling company files for Chapter 11 protection ahead of London arbitration hearing

Luxembourg drilling company files for Chapter 11 protection ahead of London arbitration hearing

A Luxembourg-headquartered offshore drilling company and 21 of its direct and indirect subsidiaries in the US, Luxembourg, Liberia, Gibraltar and the British Virgin Islands have filed for bankruptcy protection in the US to restructure US$3 billion of debt, ahead of a London arbitration hearing.

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