Harvey Gulf International Marine announced that it has completed its financial restructuring and emerged from Chapter 11 Bankruptcy proceedings at July 2nd. This marks the completion of the Plan of Reorganization approved by the bankruptcy court, just 77 days following Harvey Gulf’s prepackaged filing. Under the reorganization, Harvey Gulf has shed approximately $1 Billion in debt and emerges with a dramatically de-leveraged balance sheet. Additionally, the Company has kept its commitments to its trade vendors, paying all unsecured claims in full. Harvey Gulf will combine its new financial strength with its long history of operational excellence as the industry leader in safety and environmental protection, which are best demonstrated by Harvey’s anticipated 5th consecutive year without a recordable incident on August 13th, as well as its 99.2% uptime record for vessels on long term contract over the past 10 years.
WORLD SHIPPING
04 July 2018 - 09:07
Harvey Gulf Emerges From Chapter 11 Proceedings
Harvey Gulf International Marine announced that it has completed its financial restructuring and emerged from Chapter 11 Bankruptcy proceedings at July 2nd
WORLD SHIPPING
04 July 2018 - 09:07
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