Pacific Drilling S.A., along with its affiliates, filed a joint plan of reorganization with related disclosure statement in the US Bankruptcy Court on October 31, 2020. As per the plan filed, general administrative claims, professional fee claims, priority tax claims, statutory fees and other priority claims will be paid in full in cash. Other secured claims will either receive payment in full in cash, the collateral securing its allowed other secured claim or reinstated. First lien notes claims of $786.5 shall recover 82% will receive its pro rata share of 91.5% of the new PDC Equity and with cash sufficient to satisfy any accrued and unpaid indenture trustee fees and expenses pursuant to the first lien notes indenture. Second lien notes claims of $349.1 million is expected to recover 32% and receive its pro rata share of 8.5% of the new PDC equity and the new 2L warrants along with cash sufficient to satisfy any accrued and unpaid indenture trustee fees and expenses pursuant to the second lien notes indenture. General unsecured claims, section 510(b) claims will be cancelled, released, extinguished and discharged and receive no recovery on account of such claims. Intercompany claims will either reinstated, compromised, or cancelled and released without any distribution. Intercompany interests in PDCL held by PDSA will be cancelled, released, and extinguished, and will be of no further force or effect. Remaining intercompany interests will either reinstated, compromised, or cancelled and released without any distribution. Existing lux beneficial interests will receive no distribution on account of such allowed existing lux beneficial interests, and all rights of holders of such beneficial interests will be cancelled, released, extinguished, and discharged. The plan shall be funded from exit facility, new PDC equity and the new 2L warrants.