GulfMark Offshore has commenced a chapter 11 case in the United States Bankruptcy Court for the District of Delaware as part of its restructuring efforts.
The chapter 11 filing does not include any of GulfMark’s operating subsidiaries with the company saying contracts and relationships between GulfMark’s operating subsidiaries and their customers, vendors, and employees, are unaffected by the bankruptcy filing.
GulfMark has filed a series of motions with the bankruptcy court requesting authority, among other things, to enter into a $35m interim financing facility to support GulfMark’s operations during its restructuring process.
The same court will hold a similar session in three weeks for another American offshore firm, Paragon Offshore.
