Superior Offshore, Creditors File Liquidation Plan

Law360, New York (November 21, 2008, 12:00 AM EST) -- Bankrupt undersea oil services company Superior Offshore International Inc. and its unsecured creditors committee on Thursday jointly filed a Chapter 11 liquidation plan.

The plan, filed in the U.S. Bankruptcy Court for the Southern District of Texas, provides the terms for the distribution of remaining claims that are outstanding against the company.

David W. Jones, an attorney at Porter and Hedges LLP representing Superior Offshore in its bankruptcy procedure, said that the liquidation plan covers mostly outstanding liens and claims on securities. “The majority of the...
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