In my recent article "Seadrill Partners' CEO Leaves, Bad Sign?", we have discussed that the departure of Mark Morris hinted that the company was ready to start negotiating with creditors and that a distribution cut could have been performed as a symbolic gesture to please creditors ahead of those negotiations. Fellow contributor Henrik Alex was more decisive in his recent statement, saying that equity holders need to prepare for a potential wipe-out.
The situation for Seadrill Partners (SDLP) continues to develop quickly as the company has issued a press release