Pacific Drilling in bankruptcy motions
Multinational 
LUXEMBOURG, November 17, 2017 – Pacific Drilling has been granted first-day motions after filing for bankruptcy, the company reported on Thursday.
The motions approved by the United States Bankruptcy Court for the Southern District of New York would allow Pacific Drilling to pay wages and vendors, even as it seeks to restructure USD 3 billion of debt.
“With these approvals, the company will continue normal operations as we implement a comprehensive financial restructuring under the protection of Chapter 11,” said CEO Paul Reese in a statement. “Importantly, I would like to thank our employees, customers and vendors for working constructively with us during this important period for the company.”
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