Ocean Rig UDW says Schemes of Arrangement receives approval from Cayman Islands Court
By Sonia Wilson from Fairmount Times Ocean Rig UDW (ORIG) said Monday that the Grand Court of the Cayman Islands has sanctioned the schemes of arrangements of the company and its subsidiaries, Drill Rigs Holdings Inc., Drillships Financing Holding Inc.,…
Ocean Rig UDW files for bankruptcy protection
By Patrick Fitzgerald From Market Watch 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 $3.7 billion in debt from its…
Cayman Islands: CHC Group foreign proceeding approval sought
BY BRANDY CHETSA From Bankrupt Company News CHC Group filed with the U.S. Bankruptcy Court a motion for entry of an order authorizing a Debtor affiliate to commence a foreign an ancillary proceeding in the Cayman Islands with respect to CHC…
Madoff case ruling means some offshore funds protected
From Offshore Bankers A ruling in a bankruptcy case in a federal court in New York involving fraudster Bernard Madoff and the Koch brothers, U.S. billionaires known for funding conservative causes, has put some offshore funds out of reach of…
US: Bankruptcy judge in Sports Authority case rejects bonuses for executives
By Laura Northrup From Consumerist U.S. Bankruptcy Court judge Mary Walrath may be a new folk hero. She’s the judge handling the Sports Authority case, and today she ruled that four Sports Authority executives will not receive a combined $2.85…
