As reported in
All respective courts have approved and confirmed the Company's plans. This includes approval of the plans of
These court orders fully resolve the Reficar arbitration award and related liabilities.
McKelvy continued, 'I would like to thank our incredible McDermott team for their dedication to safe, efficient, and high-quality work and for maintaining our collective focus on meeting our commitments throughout the processes. McDermott has a 100-year history of executing exceptional, innovative projects for clients around the world. We are excited to continue to meet expanding customer and global needs and to create value for all of our stakeholders for years to come.'
About McDermott
McDermott is a premier, fully integrated provider of engineering and construction solutions to the energy industry. Our customers trust our technology-driven approach engineered to responsibly harness and transform global energy resources into the products the world needs. From concept to decommissioning, McDermott's innovative expertise and capabilities advance the next generation of global energy infrastructure-empowering a brighter, more sustainable future for us all. Operating in over 54 countries, McDermott's locally-focused and globally-integrated resources include more than 30,000 employees, a diversified fleet of specialty marine construction vessels and fabrication facilities around the world. To learn more, visit www.mcdermott.com.
Forward-Looking Statements
McDermott cautions that statements in this communication which are forward-looking, and provide other than historical information, involve risks, contingencies and uncertainties. These forward-looking statements include, among other things, statements about McDermott's liquidity and financial prospects, McDermott's credit facilities, the ability of McDermott to continue as a going concern, expectations regarding the acquisition or divestiture of assets and the outcome and impact of legal and other disputes and proceedings. Although we believe that the expectations reflected in those forward-looking statements are reasonable, we can give no assurance that those expectations will prove to have been correct. Those statements are made by using various underlying assumptions and are subject to numerous risks, contingencies and uncertainties, including, among others: adverse changes in the markets in which we operate or credit or capital markets; our inability to successfully execute on contracts in backlog; changes in project design or schedules; the availability of qualified personnel; changes in the terms, scope or timing of contracts, contract cancellations, change orders and other modifications and actions by our customers and other business counterparties; changes in industry norms; risks associated with negotiating divestitures of assets with third parties; [our liquidity and ability to obtain additional financing;] [our ability to continue as a going concern;] actions by lenders, other creditors, customers and other business counterparties of McDermott and adverse outcomes in legal or other dispute resolution proceedings. If one or more of these risks materialize, or if underlying assumptions prove incorrect, actual results may vary materially from those expected. You should not place undue reliance on forward-looking statements. This communication reflects the views of McDermott's management as of the date hereof. Except to the extent required by applicable law, McDermott undertakes no obligation to update or revise any forward-looking statement.
Contact:
Senior Director
Email: media@McDermott.com
(C) 2024 Electronic News Publishing, source