GulfMark Offshore commences bankruptcy case

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.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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