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Diamond Offshore announces comprehensive restructuring plan

Yet another rig operator announces a comprehensive restructuring plan. This time, Diamond Offshore expects to soon leave US Chapter 11.

Photo: Mark J. Terrill/AP/Ritzau Scanpix
BY

Rig operator Diamond Offshore says it has secured support for a comprehensive restructuring plan.

Diamond Offshore entered US Chapter 11 last spring in order to get time to handle a massive debt. This has resulted in a restructuring plan, which is supported by "more than 70 percent" of its bondholders and creditors, writes the company in a press release.

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