After Losing Contract Bid, Monitor Oil Files For Ch. 11

Law360, New York (November 26, 2007, 12:00 AM EST) -- Oil and gas production support services company Monitor Oil Plc has filed for protection under Chapter 11, just three weeks after revealing that it lost a bid for a contract to remove drilling platforms from ConocoPhillips Co.’s Ekofisk complex off the coast of Norway.

Monitor filed a voluntary petition Wednesday in the U.S. Bankruptcy Court for the Southern District of New York along with two subsidiaries, Monitor US Finco Inc. and Monitor Single Lift 1 Ltd. The company listed assets and debts of over $100 million...
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