Seadrill New Finance Limited (the “Issuer”) – Launch of Chapter 11 Solicitation
Hamilton, Bermuda | December 8, 2021- Seadrill Limited (“Seadrill” or the “Company”) (OSE: SDRL, OTCPK:SDRLF) and the Issuer announce, further to previous announcements made by Seadrill and the Issuer including on July 2, 2021, the launch of solicitation of votes in respect of the Issuer’s chapter 11 plan of reorganisation (the “Plan”). Following solicitation, the Issuer and certain of its subsidiaries intend to file pre-packaged chapter 11 cases in the US Bankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”) and seek approval of the Plan. The key terms of the