The US Bankruptcy Court approved the second amended joint plan of reorganization of Diamond Offshore Drilling, Inc. on April 8, 2021. The debtor has filed its amended plan in the Court on February 26, 2021. As per the amended plan, administrative claims, statutory fees, professional compensation claims, priority tax claims, other priority claims and other secured claims will be paid full in cash. RCF claims of 444.69 million will be paid through pro rata share of RCF cash paydown, its Participating RCF Lender Share of up to $100 million of funded loans under the Exit revolving credit facility and a share of $200 million (less the amount of aggregate funded loans under the Exit Revolving Credit Facility) of the exit term loan facility, if Holder elects to participate in the Exit Revolving Credit facility. Id the holder does not elects to participate in the Exit Revolving Credit facility, the claim will be paid through a share of $200 million (less the amount of aggregate funded loans under the Exit Revolving Credit Facility) of the Exit Term Loan Facility and its pro rata share (calculated as a percentage of all Holders in such Class that do not elect to participate in the Exit Revolving Credit Facility) and a portion of the RCF Cash Paydown. Senior notes claims shall be recovered 37% i.e. $756.61 million. General Unsecured Claims will be paid through payment full in cash. Intercompany claims either be reinstated or discharged. Holders of Existing parent equity interests shall receive $3 million and Intercompany Interests will either be cancelled or reinstated. The plan will be funded through cash in hand, exit revolving credit facility of $300-$400 million, exit term loan facility of $100-$200 million, exit notes of $110 million and issuance of new Diamond common shares and rights.