Exactly! This is all part of the JF scam.
They knew exactly what they were doing and where the business was eventually headed.
Then the big lie about paying the dividend to fool small investors.
The creditors are the ultimate owners of SDRL because when you run a business based on debt and the fundamentals change, small investors get crushed.
Funny how you can constantly build an empire and become a billionaire while everyone else goes to the poor house.
And you're right! This business is no different than Frontline or Dry ships. Same scam!
JF's plan is for sdrl to issue new shares of A class stock with special rights of voting worth 5 of current B class shares.
That's how this scam artist will take over the company and leave you penniless.