A list of numbers attached to Tidewater's bareboat charter contracts is at the centre of a multi-million-dollar tug of war with key players in the maritime asset leasing game.
Called the stipulated loss value (SLV) schedule, the data helps set out the damages that the offshore vessel owner must pay if it defaults on the financial leasing contracts.
And it is now the basis of an estimated $275m-worth of claims filed by Regions Commercial Equipment Finance, PNC Equipment Finance, Bank of America Leasing & Capital and others as part of Tidewater's Chapter 11 bankruptcy.
