Valaris successfully emerges from Chapter 11

 On 18 August 2020, Valaris (one of the largest oil rig owning companies in the world) filed for bankruptcy in the Southern District of Texas with over USD 7 billion of financial debt.

Walder Wyss advised with respect to Swiss law and Swiss assets a bondholder group with over USD 4 billion of debt of Valaris in negotiations to restructure its balance sheet, resulting in a USD 500 million in debtor-in-possession financing approved by the bankruptcy court in September 2020 and the emergence on 30 April 2021 of Valaris and its affiliated debtors from Chapter 11 bankruptcy following a successful in-court restructuring process, reducing the company’s funded debt from more than USD 7 billion to USD 550 million in the form of new secured notes.

Walder Wyss acted with a team led by Tervel Stoyanov (pictured – counsel, finance/restructuring).

Valaris successfully emerges from Chapter 11


Launched in 2020 by LC Publishing Group, it is the first digital portal addressed to the Swiss legal market.
In terms of contents, the website focuses on both law firms and in-house legal departments, covering the latest news and rumors on deals and operations (and the related advisors) as well as on lateral hires, moves and new appointments and providing insights, analytical data and opinions on the professions’ main trends and topics (Ai, innovation, etc.).

For further information, please visit the Group’s website

LC Publishing Group S.p.A. – Via Tolstoi 10 – 20146 Milano – Tel. 0236727659 – C.F./P.IVA 07619210961
REA 1971432 Registro delle Imprese di Milano – Cap. Soc. Euro 50.000,00 i.v.

Copyright 2022 © All rights Reserved. Design by Origami Creative Studio


Share on linkedin
Share on twitter
Share on facebook
Share on whatsapp
Share on email
Share on telegram