Ocean Rig wrapped up its restructuring plan, which sees it wipe out some $3.7bn in debt in exchange for new equity in the company.
The recapitalised entity will have $2.7bn in assets, $690m in cash, and $567m in debt.
Debtors to the company will receive 91% of the newly issued equity in Ocean Rig. Likewise, they will get to appoint three directors to the company's board.
