Hermitage Offshore appeals NYSE delisting

Hermitage Offshore Services, part of Emanuele Lauro-led Scorpio Group, has announced that it has submitted a request to appeal the delisting determination of the New York Stock Exchange (NYSE).

NYSE determined to initiate delisting procedures following the Hermitage’s voluntary petition for reorganisation under Chapter 11 of the bankruptcy code earlier this month.

Hermitage Offshore believes that the significant uncertainty surrounding the outcome of the bankruptcy proceedings do not allow for a meaningful assessment of the company’s ability to meet the NYSE’s continued listing standards following the completion of the bankruptcy proceedings, and that therefore the initiation of delisting procedures at this time is premature. 

Hermitage Offshore owns a fleet of 21 vessels consisting of 10 PSVs and 11 crew boats. 

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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