US owner GulfMark Offshore is set to emerge from Chapter 11 restructuring within 30 days after its reorganisation plan was approved.
The US bankruptcy court of Delaware has confirmed a deal with creditors that will see shareholders' investment almost wiped out, GulfMark said.
“I want to thank our customers and employees for their trust and dedication throughout this process. We will continue our commitment to world-class operations and safety while we emerge as a stronger company positioned to capitalise on industry opportunities,” said CEO Quintin Kneen.
