Harvey Gulf says a US bankruptcy court has approved its bankruptcy reorganisation after one of its largest creditors backed off a last-minute objection to the plan.
The Louisiana-based offshore vessel owner noted approval for the plan came just 77 days after it filed a prepackaged Chapter 11 to deal with its $1.2bn in debt.
“We really appreciate the diligent and collaborative efforts of all involved in this process – both within the company and from the legal and financial support teams," said Harvey Gulf chief executive Shane Guidry.
