Seadrill North Atlantic Drilling, Sevan debtors’ stock to be delisted

By Caroline Salls

Pittsburgh, July 2 – Seadrill Ltd. debtors North Atlantic Drilling Ltd. and Sevan Drilling Ltd. said their common shares will be deregistered from the Norwegian OTC market and delisted from the Oslo Stock Exchange, respectively, and canceled in connection with Seadrill’s emergence from Chapter 11 bankruptcy.

According to a release from North Atlantic Drilling and Sevan, their existing shareholders will receive no recovery.

Hamilton, Bermuda-based Seadrill owns and operates offshore drilling rigs. The company filed bankruptcy on Sept. 12, 2017 in the U.S. Bankruptcy Court for the Southern District of Texas under Chapter 11 case number 17-60079.

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