A seismic week for two survey ship operators looks to be ending very differently.
Dubai company Polarcus is laying off all staff after its lenders took over six of its seven vessels and lined them up for auction, while Norway's PGS has clinched a $1.2bn financial restructuring through a UK High Court process.
In a filing on Wednesday, Oslo-listed Polarcus, which defaulted on a bank loan in January, said major investor Bybrook Capital had sold 40m shares in the company.
