Houston offshore co. prepares to file Ch. 11 to eliminate $430M of debt

Houston-based GulfMark Offshore Inc. (OTCPink: GLFM) plans to voluntarily file for Chapter 11 bankruptcy protection this month now that it’s reached a restructuring support agreement.

The bankruptcy filing is expected on or before May 21, and the company plans to continue operations throughout the process. GulfMark has secured a commitment for financing to support its operations during the process, according to a May 16 press release.

Holders of approximately 47 percent of GulfMark’s unsecured…

Houston offshore co. prepares to file Ch. 11 to eliminate $430M of debt syndicated post

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