Harvey Gulf Emerges From Chapter 11 Proceedings

Harvey Gulf Emerges From Chapter 11 Proceedings

Yesterday, Harvey Gulf International Marine announced that it has completed its financial restructuring and emerged from Chapter 11 Bankruptcy proceedings. This marks the completion of the Plan of Reorganization approved …
Jul 3, 2018 /  Finance
Toisa Limited And 23 Affiliates File Voluntary Chapter 11 Amid Global Oil Slump

Toisa Limited And 23 Affiliates File Voluntary Chapter 11 Amid Global Oil Slump

Toisa Limited and 23 of its affiliated vessel-owning companies (collectively, the "Company") announced yesterday that it has filed voluntary petitions for reorganization under Chapter 11 of the Bankruptcy Code in the …
Jan 31, 2017 /  Finance
STX Offshore in Deep Financial Crisis

STX Offshore in Deep Financial Crisis

The South Korean shipyard STX Offshore & Shipbuilding is apparently close to a bankruptcy if not yard soon find new vendors who are willing to pump huge sums into the yard. Otherwise, there is the prospect of a …
Nov 19, 2015 /  Finance
Hercules Offshore Officially Files For Bankruptcy

Hercules Offshore Officially Files For Bankruptcy

The Hercules Offshore Inc drilling contractor reported that it had filed for Chapter 11 bankruptcy among continuing market conditions of dropping oil and gas producer and explorer demand levels due to low …
Aug 14, 2015 /  Finance
Lithuanian Shipping Company Goes Bankrupt

Lithuanian Shipping Company Goes Bankrupt

The Lithuanian Ministry of Transport and Communications has filed for bankruptcy proceedings regarding the PC Lithuanian Shipping Company (HQ – Klaipeda). The Ministry owns 56.66% of the total company shares. …
Jul 24, 2015 /  Finance
Signal International Goes Bankrupt

Signal International Goes Bankrupt

In the face of a massive lawsuit wave initiated by workers that were recruited from India for employment on the United States Gulf Coast, the Signal International marine services company has decided to file for …
Jul 16, 2015 /  Finance
Hercules Offshore: Company To Soon Seek Chapter 11 Bankruptcy Protection

Hercules Offshore: Company To Soon Seek Chapter 11 Bankruptcy Protection

The shallow-water driller that is Hercules Offshore has started up plans to transfer company ownership to its respective creditors along the lines of a financial restructuring deal that is going to require from the …
Jun 19, 2015 /  Finance
Cecon Reportedly Headed For Bankruptcy

Cecon Reportedly Headed For Bankruptcy

The Oslo-listed Cecon ASA subsea contractor has issued a request from a Norwegian-based court for it to declare the company as being bankrupt due to failure to present a proper restructuring plan. Over the course …
Apr 24, 2015 /  Finance
Danish Copenship files for bankruptcy

Danish Copenship files for bankruptcy

The shipping company Copenship -a private ownership, has submitted records for bankruptcy in Copenhagen. That has happened after it has suffered damages in the dry bulk market according to company’s Chief …
Feb 5, 2015 /  Finance