Business Restructuring & Insolvency 2021 Annual Review

We served as counsel to the official committee of unsecured creditors of Valaris plc (“Valaris”) and its affiliated debtors in their chapter 11 cases. Valaris is a leading provider of offshore drilling services to the international oil and gas industry. It currently operates the industry’s largest modern offshore drilling fleet of 67 rigs and maintains drilling operations in nearly every major offshore market, spanning 24 countries. Valaris’s customers include many of the leading national and international oil companies, in addition to numerous local and independent offshore exploration and production companies. The company listed total assets of approximately $13 billion and total debts of approximately $7.85 billion in its first day filings. Valaris, which is incorporated under the Laws of England and Wales, required implementation of certain restructuring transactions in the United Kingdom. This engagement exemplifies the global footprint of MoFo’s restructuring practice, as the New York and London teams worked in tandem to provide a full range of legal services to the committee, ultimately ensuring full payment of general unsecured claims. UCC of Valaris MORRISON & FOERSTER | BRIG 2021 ANNUAL REVIEW 5 4 MORRISON & FOERSTER | BRIG 2021 ANNUAL REVIEW