Seadrill announced voting results for its Chapter 11 restructuring plan.
As per the company’s statement, the plan received approval from every single class of creditors and holders of interests entitled to vote.
Among creditors, 99.8% voted to accept the plan.
Now the plan will have to be approved on a confirmation hearing scheduled for April 17, 2018.
If the plan is approved on the confirmation hearing, current Seadrill shareholders will get a post-dilution 1.9% stake in new Seadrill shares.