George Economou has chosen to send beleaguered NASDAQ-listed Ocean Rig in for bankruptcy Ocean Rig will be deleveraged by an exchange of $3.69bn principal amount of debt for new equity of.The Ocean Rig Corcovado, an open drillship owned by Ocean Rig UDW Inc., which was used by Cairn Energy Plc in their The twist comes in a legal battle raging since Ocean Rig’s March bankruptcy.As expected, Ocean Rig filed for bankruptcy. Management will get 9.5% of new equity.The Ocean Rig bankruptcy is just the latest plot twist in the ever-evolving, often-controversial business drama that has swirled around Economou for many years. Currently, the Greek magnate’s most.George Economou’s Ocean Rig has filed for bankruptcy under Chapter 15 of the US Bankruptcy Code.After facing big debts and a prolonged market downturn, the drillship owner saw the Grand Court.Is RIG A Good Stock To Buy Now According To Hedge Funds? Transocean Stock Crashes 28% on Bankruptcy Concerns. Motley Fool -28.30%.NEW YORK – Offshore drilling rig contractor Ocean RIG UDW Inc. has filed for Chapter 15 bankruptcy protection in a US court, according to Reuters. The Cyprus-based company, which had.Ocean-Rig News: Transocean Closes Ocean Rig Acquisition, Transocean Shareholders OK Ocean Rig Acquisition, Cautious Consolidation For OSV Companies Brings.Ocean Rig UDW financials, including financial statements for 2021, basic ratios and analysis of The calculation of odds of distress for Ocean Rig stock is tightly coupled with the Probability of Bankruptcy.Ocean Rig UDW Inc. was an operator of semi-submersible oil platforms and underwater drillships and was based in Athens. In 2018, the company was acquired by Transocean. The company owned 2 semi-submersibles and 4 ultra deepwater drillships.Ocean rig udw inc. announces decision by u.s.(Reuters) – International offshore driller Ocean RIG UDW Inc ORIG.O filed for Chapter 15 bankruptcy protection in a U.S. court late Monday, hit by cancellations as major oil producing customers withdrew.International offshore driller Ocean RIG UDW Inc filed for Chapter 15 bankruptcy protection in a U.S. court In a filing with the U.S. Bankruptcy Court in New York, Ocean Rig UDW President Antonios.
Ocean Rig has reached a financial restructuring agreement with a group of lenders which would convert Many offshore drilling companies are considering filing or have already filed for bankruptcy.Ocean Rig sought bankruptcy this March. Ocean Rig’s Cayman liquidators need to prove Ocean Rig and its three affiliates seeking relief in the US in aid of their Cayman proceedings have either a.Ocean Rig said on Tuesday it had entered into an agreement with creditors representing over 72 percent of Ocean RIG’s debt for a financial restructuring. Under U.S. bankruptcy laws, Chapter 15.Get today’s Ocean RIG UDW Inc stock price and latest ORIG news as well as Ocean RIG UDW real-time stock quotes, technical analysis, full financials and more.Ocean Rig (ORIG) stock was trading sharply lower this morning after noting that it will keep exploring reorganization strategies including bankruptcy.Ocean Rig mentioned the following about offshore drilling’s supply side: As market conditions continue to deteriorate, 59 rigs have already been scrapped, and around 125 rigs have either been warm or.George Economou’s Ocean Rig and its subsidiaries have filed for bankruptcy restructuring with the appointment of provisional liquidators.Offshore drilling contractor Ocean Rig UDW Inc. filed for bankruptcy protection in the U.S. to block distressed debt investors from interfering with a debt restructuring that will slash.Ocean Rig is far from the only offshore drilling company to enter bankruptcy since the downturn began. Singapore-based offshore conglomerate Ezra Holdings filed for Chapter 11 protection on.Ocean Rig’s top competitors are Seadrill, Diamond Offshore and Transocean Ltd.. See Ocean Rig’s revenue, employees, and funding info on Owler, the world’s largest community-based business.Rig contractor Ocean RIG UDW Inc filed for Chapter 15 bankruptcy protection in a U.S. court amid a deep and prolonged downturn in the industry. Shares of the company plunged 36.4 percent to 46.Offshore driller Ocean Rig has filed for Chapter 15 bankruptcy protection in a United States court amid a prolonged downturn in the offshore drilling market. The purpose of Chapter 15 is to provide effective.
International offshore driller Ocean Rig UDW Inc filed for Chapter 15 bankruptcy protection in a U.S. court late Monday, hit by cancellations as major oil producing customers withdrew from deep water projects amid falling oil prices.Ocean Rig UDW LLC.’s (ORIG) stock plunged more than 68% to 23 cents on Mar 28, after the company filed for chapter 15 bankruptcy protection in a U.S. court.The rig contractor Ocean Rig filled for Chapter 15 protection in US court Bankruptcy Court for Southern District of New York. The company suffered from liquidity problems and increasing debt.