This year starts on a sour note for Pacific Drilling (PACD). The company has just announced that its subsidiaries lost arbitration against the shipyard Samsung Heavy Industries ((SHI)). This arbitration was related to the drillship Pacific Zonda. As a reminder, Pacific Drilling rescinded the construction contract for drillship Pacific Zonda in October 2015 due to SHI's failure to timely deliver the vessel. At that time, Pacific Drilling stated that it made advance payments totaling approximately $181.1 million. The most recent quarterly report included a "receivable from unconsolidated subsidiaries" of $205 million which reflected Pacific Drilling's