Sea Trucks Group is facing liquidation after a group of creditors reacted to attempts from the company’s founder to block access to working capital while using military force to retain vessels.

Holders of more than 61% of the company’s $456m notes due in March 2018 will vote on 2 May over filing a winding-up petition and appointing liquidators.

Sea Trucks signed a standstill agreement with its creditors in January, after months of negotiations.