Diamond Offshore Drilling entered into a plan support agreement with holders of more than 70% of each of its senior unsecured notes and revolving credit facility loans regarding a financial restructuring transaction that will deleverage the company’s balance sheet.
Paul, Weiss, Rifkind, Wharton & Garrison elected five new partners to the partnership, effective January 1, 2018: Yahonnes Cleary, Brian S. Grieve, Kyle J. Kimpler, Lindsay B. Parks and Ramy J. Wahbeh. Four of the new partners are resident in the firm’s New York office. Wahbeh is resident in the firm’s London office.
Paul, Weiss, Rifkind, Wharton & Garrison hired Paul M. Basta as co-chairman of the bankruptcy and corporate reorganization department in the New York office.