An Ocean Rig creditor that opposed the company’s restructuring plan has decided to drop its objections.
Highland Capital Management told the George Economou-led company that it will not object to the recognition by the US bankruptcy court of Cayman proceedings.
George Economou, chairman of Ocean Rig, said: “The high level of support (over 90%) from creditors of each of the scheme companies and Highland's decision to drop its objections to recognition, is a testament to the fairness and robustness of our proposed restructuring plan.
