(Bloomberg) — Valaris Plc became the latest casualty of the global slump in oil prices, filing for bankruptcy Wednesday as the world’s largest offshore rig owner by fleet size seeks to restructure a roughly $7 billion debt load.The Chapter 11 filing in the U.S. Bankruptcy Court for the Southern District of Texas comes after the company said it could be forced to seek creditor protection after skipping bond payments.Valaris has entered into a binding restructuring support agreement with about half of its noteholders and received $500 million in debtor-in-possession financing, the company said in a statement. The company listed total …read more
Source:: Yahoo Finance
