Search results for: 11

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  • 3 July 2018
    Business & Finance

    Offshore driller Seadrill Limited has emerged from Chapter 11 after successfully completing its reorganization pursuant to its chapter 11 plan of reorganization.

  • 1 August 2016
    Business & Finance

    US-based shipping company International Shipholding Corporation (ISH) has, along with some of its subsidiaries, filed voluntary petitions for relief under Chapter 11 of title 11 of the United States Code in the United States Bankruptcy Court for the Southern District of New York. To facilitate the Chapter 11 process, the company has entered into a debtor-in-possession USD […]

  • 8 October 2019
    Business & Finance

    Offshore helicopter operator Bristow Group expects to emerge from Chapter 11 by the end of the month following a confirmation of its reorganization plan by a U.S. court.

  • 18 May 2017

    U.S. offshore support vessel owner Tidewater has filed voluntary petition under Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the District of Delaware. The move is intended to help Tidewater pursue a prepackaged plan of reorganization in accordance with its previously announced restructuring support agreement (the “RSA”) with certain lenders to “effectuate a […]

  • 13 May 2019
    Business & Finance

    Bristow Group, a helicopter services provider for the offshore oil and gas industry, has voluntarily filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas.

  • 6 February 2018
    Business & Finance

    Oilfield services company Expro has completed its financial restructuring.

  • 10 December 2019
    Business & Finance, Exploration & Production

    Japan Drilling Company has secured additional work for its Hakuryu-11 jack-up, which will see the rig employed offshore Vietnam.

  • 14 May 2020
    Business & Finance, Business developments & projects, Vessels

    U.S. offshore vessel operator Hornbeck Offshore Services has launched a solicitation of votes from its lenders and unsecured noteholders in support of a prepackaged Chapter 11 plan of reorganization.

  • 1 July 2020
    Business & Finance, Business developments & projects

    U.S. engineering and construction services company McDermott International has completed its restructuring process by shedding nearly all of the company’s $4.6 billion of funded debt.

  • 17 February 2013

    Update on Emma Maersk Incident (Egypt) On 1 February 2013, Emma Maersk, Maersk Line’s largest container vessel, experienced ingress of water into the engine room. The vessel had just commenced its southbound transit through the Suez Canal en route to Asia. The captain decided to terminate the planned voyage and go alongside the nearby Suez […]

  • 4 November 2019
    Business & Finance

    Offshore helicopter operator Bristow Group has emerged from Chapter 11 bankruptcy protection.

  • 15 February 2016
    Business & Finance

    Offshore drilling contractor Paragon Offshore on Monday elected to start proceedings under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court in the District of Delaware.  As announced on Friday, February 12, 2016, Paragon entered into a Plan Support Agreement (PSA) to support a restructuring of the company’s balance sheet. Paragon […]

  • 18 March 2015
    Business & Finance

    Bulker operator Sobelmar Antwerp N.V. and certain of its subsidiaries have commenced Chapter 11 reorganization proceedings in the United States Bankruptcy Court for the District of Connecticut (Hartford). The company said that the Chapter 11 process will facilitate its restructuring as Sobelmar pushes to restore long-term financial health. “Even though Sobelmar remained current on its debt service […]

  • 15 December 2017
    Business & Finance

    Cobalt International Energy and certain of its U.S. affiliates have filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code. 

  • 20 March 2017
    Business & Finance

    Singapore’s Ezra Holdings has filed voluntary petitions for reorganization under Chapter 11 of the United States Bankruptcy Code. The company, together wth its subsidiaries EMAS IT Solutions Pte Ltd and Ezra Marine Services Pte. Ltd, filed the petition on Saturday in order to facilitate the financial restructuring. Ezra explained that the filing is intended to optimize the […]

  • 13 March 2020
    Business & Finance

    The U.S. Bankruptcy Court for the Southern District of Texas has confirmed McDermott’s plan of reorganization and approved the sale of Lummus Technology to a joint partnership between The Chatterjee Group and Rhône Capital. McDermott filed for Chapter 11 bankruptcy in late January 2020 to eliminate $4.6 billion of debt. The company announced the confirmation […]

  • 24 May 2018
    Business & Finance, Operations & Maintenance

    Gulf of Mexico-focused vessel operator Harvey Gulf International Marine has been granted approval for its final Plan of Reorganization by the United States Bankruptcy Court. The approval comes just 77 days following Harvey Gulf’s prepackaged filing, considerably faster than all previous Chapter 11 proceedings for vessel operators over the last five years, the company noted. Following […]

  • 27 March 2017
    Business & Finance

    Helicopter operator CHC Group has concluded its financial restructuring and emerged from Chapter 11 as its court-confirmed plan of reorganization went into effect on March 24, 2017. CHC Group and certain of its wholly-owned subsidiaries filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in May 2016. The company’s operations […]

  • 26 April 2018
    Business & Finance

    Erin Energy and certain of its subsidiaries have filed voluntary petitions under Chapter 11 of the U.S. Code in the Bankruptcy Court for the Southern District of Texas to pursue a plan of reorganization. 

  • 14 April 2020
    Authorities & Government, Business & Finance, Business developments & projects, Regulation & policy, Vessels

    U.S. offshore vessel operator Hornbeck Offshore has entered into a restructuring support agreement for comprehensive balance sheet restructuring.

  • 24 October 2019
    Exploration & Production

    OMV Norge is in the process of completing the drilling of appraisal well 6506/11-11 S on the 6506/11-10 (Iris) gas/condensate discovery in the Norwegian Sea. 

  • 24 May 2018
    Business & Finance

    Harvey Gulf has emerged from Chapter 11 bankruptcy, following the receipt of confirmation of its reorganization plan by a U.S. court.