New Delaware Chapter 11 Filing – Prospector Offshore Drilling S.à r.l. (17-11572 – CSS)

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Prospector Offshore Drilling S.à r.l., and 3 of its affiliates, has filed for chapter 11 bankruptcy protection in the United States Bankruptcy Court for the District of Delaware (Lead Case No. 17-11572).  The entities are affiliates of the Paragon debtors that filed for chapter 11 on February 14, 2016.  The petition lists between $1 and $10 billion in both assets and liabilities.  The First Day Declaration can be found here.  KCC is the proposed claims agent.  The Debtors are requesting the joint administration of these cases.  The Honorable Christopher S. Sontchi will be presiding over these cases.


Contact Norman L. Pernick and Nicholas J. Brannick for more information.

As the law continues to evolve on these matters, please note that this article is current as of date and time of publication and may not reflect subsequent developments. The content and interpretation of the issues addressed herein is subject to change. Cole Schotz P.C. disclaims any and all liability with respect to actions taken or not taken based on any or all of the contents of this publication to the fullest extent permitted by law. This is for general informational purposes and does not constitute legal advice or create an attorney-client relationship. Do not act or refrain from acting upon the information contained in this publication without obtaining legal, financial and tax advice. For further information, please do not hesitate to reach out to your firm contact or to any of the attorneys listed in this publication.

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