DOF ASA: New board, new restructuring proposal
Leading Norwegian offshore services provider DOF ASA is to make another attempt at getting a restructuring plan in place. This is the latest development in the chain of events set in motion
restructuring
Keppel O&M to exit offshore rig building
Singapore’s Keppel Corporation today reported a SGD 506 million (about $381 million) net loss for FY 2020 after taking impairments of SGD 952 million (about US$761 million) mainly due to the offshore
TTB: What to do when the bottom falls out: Everything you hope you’ll never need to know about restructuring
In the past year, the tug and barge industry has seen one of its biggest names wind up in a bankruptcy case that’s been anything but a neatly prepackaged restructuring. Others have
Siem Offshore reports progress in restructuring discussions
Kristiansand, Norway, headquartered Siem Offshore Inc. says it has made “good progress” in its restructuring discussions with its secured lenders in Europe and leading bondholders, but cautions that the plan is also
MAN Energy Solutions lowers job cut target
The executive board and employee representatives of MAN Energy Solutions have agreed on a joint paper outlining the key points of the restructuring of the company announced July 22. The new plan
MAN Energy Solutions to make massive job cuts
Preparing for “a prolonged period of stagnant sales as a result of the COVID-19 pandemic,” the executive board of MAN Energy Solutions is launching what it calls a comprehensive program to ensure
Royal IHC to be refinanced and have new ownership
Dutch shipbuilder Royal IHC, long a leader in dredge design and construction and other areas, is to be refinanced and come under new ownership. An outline agreement on the acquisition and refinancing
Restructuring will see Solstad Offshore shed 37 vessels
Skudeneshavn, Norway, headquartered Solstad Offshore ASA reported yesterday that a majority of its creditors — including secured lenders, leasing companies, industrial shareholders and key bondholders — have established a common plan to
I.M. Skaugen asks Singapore court for moratorium on creditor claims
MAY 31, 2018 — Oslo, Norway, headquartered I.M. Skaugen SE (IMS) and two wholly owned subsidiaries today filed applications in the Singapore High Court for a moratorium on creditors’ claims to commence
Rolls-Royce eliminates a senior management layer
DECEMBER 16, 2015— Warren East, who became Chief Executive of Rolls-Royce in July, has started the restructuring that he promised in November, after completing a review of the company’s operations. As a