Amrit Khosa authored an article for Global Turnaround covering restructurings in the offshore industry.
"The offshore drilling industry has faced many challenges over the last years and service companies have felt the brunt," Amrit wrote. "The 2020/21 restructurings have aimed to address the unsustainable debt burdens that arose following the 2014-2016 price collapse and have created capacity for consolidation and M&A activity. However, the underlying issues in the industry are still there and will continue to exert pressure on already unreliable cash flow. The greater need for investment may, in turn, make what is currently sustainable debt unsustainable relatively quickly."
Read the full article.
This article by Amrit Khosa first appeared in the February 2021 edition of Global Turnaround magazine. Global Turnaround is the leading source of market intelligence for the restructuring and bankruptcy industry and is read in over 70 countries. To find out more, visit www.globalturnaround.com.
Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
© Morrison & Foerster LLP. All rights reserved