The previous month, an arbitration tribunal in London ordered the company to pay the amount of $320m to Samsung Heavy Industries for cancelling a drillship order.

In line with the rules governing the arbitration proceedings, Pacific Drilling has no automatic right to appeal. In the meantime, the company added that the grounds on which the High Court in London may grant permission to appeal are limited and there can be no assurance that permission to appeal will be granted.

As it has been previously reported, Pacific Drilling filed a separate plan of reorganization under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York, which was confirmed on January 30, 2019.