SDRLF - Seadrill files for Chapter 11 bankruptcy second time in four years

Seadrill (SDRLF) says it has filed for bankruptcy protection in the U.S., the second time in four years the company has entered into Chapter 11 restructuring.The offshore drilling rig contractor returned to court along with several subsidiaries after failing to win consent from lenders to postpone payments on $5.7B of debts.Seadrill's total debts and liabilities stood at $7.3B at the end of Q3 2020.Seadrill's Asian units filed for Chapter 11 bankruptcy earlier this week.

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Seadrill files for Chapter 11 bankruptcy, second time in four years