February 25, 2021

Ogier’s work on Ocean Rig restructuring recognised for third time

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Ogier’s work on the restructuring of Ocean Rig has been recognised with a third industry award at Global Restructuring Review’s annual awards in London last week (26th June). The restructuring took the award for ‘Innovation in cross-border insolvency and restructuring’ – the award was further high-profile recognition for Ogier’s innovation last month, following the firm’s […]

Cayman Islands: Maples and Calder wins award at 2018 Global Restructuring Review Awards

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Maples and Calder has once again been recognised for its cross border restructuring expertise on the successful restructuring of Ocean Rig UDW and three of its subsidiaries comprising US$3.7 billion of financial indebtedness. Following the firm’s recent success at the 10th Annual International M&A Advisor Awards in May 2018, where Maples and Calder won “Restructuring […]

Cayman Islands: Ogier recognised with two awards for Ocean Rig restructuring

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The restructuring of Ocean Rig – the Cayman Islands’ largest ever successful restructuring, in which Ogier acted for the joint provisional liquidators – has won two industry awards. The case has been named Energy Deal of the Year and Restructuring of the Year ($1B – $5B) by M&A Advisor, an achievement that was celebrated at […]

AlixPartners completes largest ever cross-border restructuring in Cayman Islands

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From ABL Advisor AlixPartners, the global advisory firm, announced that it recently completed the successful financial restructuring of Ocean Rig UDW and certain of its subsidiaries. Ocean Rig is an international offshore drilling contractor providing oilfield services covering exploration, development, and production drilling. It specializes in the ultra-deepwater and harsh-environment segment of the offshore oil […]

Ocean Rig UDW says Schemes of Arrangement receives approval from Cayman Islands Court

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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., and Drillships Ocean Ventures Inc. The company said the terms of the restructuring have been […]

Ocean Rig UDW files for bankruptcy protection

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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 books. The Cayman Islands holding company filed Monday night for protection under chapter 15, the […]

iNews Briefs & Community Events (From BIG FISH 95.5)

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Child month cupcake war open to students in Cayman Brac Young pastry chefs in Cayman Brac are invited to take part in the Child Month Cupcake Wars competition. Taking place on Saturday 30 April at the Layman Scott High School, the competition challenges bakers to create two cupcakes, a cupcake using fruit in the recipe […]