Bloomberg Law
Sept. 9, 2020, 4:16 PM

Noble Corp. Reaches Tentative Deal to Resolve Paragon Lawsuit

Allison McNeely
Allison McNeely
Bloomberg News

Noble Corp. has reached a tentative settlement to resolve its dispute with the Paragon litigation trust, a lawyer for the bankrupt offshore driller said in a court hearing Wednesday.

  • The company has sent the broad terms of the Paragon settlement to its two creditor groups for approval, and Noble expects to file a motion for court approval of the deal as soon as next week, counsel said
    • Noble didn’t provide any details on the settlement in the U.S. bankruptcy court hearing
    • A court-approved settlement removes a major hurdle to its exit from bankruptcy
  • Noble was embroiled in litigation resulting from ...