The US Bankruptcy Court approved the modified second amended joint prepackaged plan of reorganization and related disclosure statement of McDermott International, Inc. on March 12, 2020. The debtor has filed its modified second amended plan in the Court on March 12, 2020. As per the amended plan, administrative claims, professional claims, priority tax claims and other priority claims shall be paid in full in cash. DIP claims shall receive: (a) to the extent not paid in full in accordance with the technology business sale proceeds waterfall, each holder of an allowed DIP term loan claim shall receive payment in full in cash; (b) to the extent not paid in full in accordance with the technology business sale proceeds waterfall or the proceeds of the rights offering, each holder of an allowed DIP term loan claim constituting the make whole amount shall receive its pro rata share of the term loans arising under the make whole tranche; (c) each holder of an allowed DIP LC claim with respect to drawn DIP letters of credit that have not been reimbursed in full in cash shall receive payment in full in cash; (d) each holder of an allowed DIP LC claim shall receive participation in the super senior exit facility in an amount equal to each such holder’s DIP letter of credit facility commitments; (e) each holder of a DIP cash secured letter of credit claim shall receive participation in the cash secured exit lc facility in an amount equal to such claim; (f) all DIP hedging obligations shall be rolled into and deemed incurred under the super senior exit facility. Other secured claims shall receive payment full in cash, collateral securing such claim or reinstatement of the claim. Other prepetition financing claims of $105 million and bilateral facility claims of $1,154 million shall be reinstated. 2021 letter of credit claims of $229 million shall receive, on account of unfunded 2021 letters of credit a participation in the roll-off lc exit facility in an amount equal to each such holder’s allowed 2021 Letter of credit claim, for funded 2021 letters of credit, its secured creditor pro rata share of the secured creditor funded debt distribution and payment in full in cash for amounts accrued and unpaid to 2021 letter of credit claims as of petition date. 2023 letter of credit claims of $1,259 million shall receive, on account of unfunded 2023 letters of credit a participation in the roll-off lc exit facility, for funded 2023 letters of credit, its secured creditor pro rata share of the secured creditor funded debt distribution and payment in full in cash for amounts accrued and unpaid to 2023 letter of credit claims as of petition date. Revolving credit claims of $998 million shall be recovered 84% i.e. $838.32 million and shall receive, on account of unfunded revolving credit claims a participation in the roll-off lc exit facility, for revolving loans or funded revolving lc, its secured creditor pro rata share of the secured creditor funded debt distribution and payment in full in cash for amounts accrued and unpaid to Revolving credit claims as of petition date. Term loan claims of $2,229 million shall be recovered 84% i.e. $1,872.36 million and shall receive its secured creditor pro rata share of the secured creditor funded debt distribution. Credit agreement hedging claims of $50 million shall be recovered 84% i.e. $42 million and shall receive its secured creditor pro rata share of the secured creditor funded debt distribution. Cash secured letter of credit claims of $305 million shall be deemed to reissue its cash secured letters of credit under the cash secured lc exit facility, and shall receive payment in full in cash for amounts accrued and unpaid to cash secured letter of credit claims as of petition date. Lloyds letter of credit claims of $102 million shall receive, on account of unfunded lloyds letter of credit claims a participation in the roll-off lc exit facility, for funded lloyds letter of credit claims, its secured creditor pro rata share of the secured creditor funded debt distribution and payment in full in cash for amounts accrued and unpaid to lloyds letter of credit claims as of petition date. Senior notes claims of $1,402 million shall be recovered 19% i.e. $266.38 million and shall receive 6% of the new common stock plus additional shares of new common stock, new warrants. General unsecured claims shall be paid in full in cash or shall be reinstated. Intercompany claims and existing equity interests other than in McDermott shall be reinstated or cancelled. Existing preferred equity interests and existing common equity interests shall not receive any distribution under the plan and shall be cancelled. The plan shall be funded through cash, sale of assets, term loan exit facility of $500 million, cash secured LC exit facility of $371 million, super senior exit facility of $743 million, senior exit LC facility of $1.33 billion, roll-Off LC exit facility, issuance of new common stock, rights offering and issuance of new tranche A warrants and tranche B warrants.