Noble Corp. Reaches Tentative Deal to Resolve Paragon Lawsuit

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 ...