22
Jan
16:10
McDermott declares bankruptcy
Major US-headquartered oilfield construction, energy services, and pipe fabrication firm McDermott International has entered Chapter 11 bankruptcy, Kallanish reports.
McDermott hopes to equitise more than $4.6 billion of its debt during the restructuring, beginning the process with about $2.8 billion in debtor-in-possession financing.
The bulk of that financing will be repaid by the sale of Lummus Technology to The Chatterjee Group and Rhône Gro…
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Anonymous
Very good overview of the weekly steel market.
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