Brief: Northern Ocean Updates On Settlement With Seadrill
29/10/2021 15:54
Oct 29 (Reuters) - Northern Ocean Ltd NOL.OL :
* NOL: SETTLEMENT UPDATE
* NORTHERN OCEAN - AMENDED SETTLEMENT AGREEMENT BETWEEN NOL AND ITS SUBSIDIARIES AND
SEADRILL AND
ITS SUBSIDIARIES HAS NOW BEEN APPROVED BY BANKRUPTCY COURT IN SEADRILL'S CHAPTER 11 PROCESS IN
US
* NORTHERN OCEAN LTD - ONCE EFFECTIVE, SETTLEMENT WILL CLOSE ALL OUTSTANDING BALANCES AND
CLAIMS
BETWEEN COMPANIES
* NORTHERN OCEAN LTD - SEADRILL WILL IMMEDIATELY PAY BAREBOAT LEASE PAYMENTS ON WEST BOLLSTA
ACCRUED FROM AUGUST 10, 2021
* NORTHERN OCEAN LTD - SEADRILL WILL CONTINUE TO PAY BAREBOAT LEASE PAYMENTS ON WEST BOLLSTA
ON A
REGULAR BASIS GOING FORWARD
Source text for Eikon: ID:nObiRS0bVa
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