Liquidity Crisis Puts Trico Marine On Bankruptcy Brink

Law360, New York (June 14, 2010, 4:40 PM ET) -- Even after reaching an amendment of its credit facility, oil field services provider Trico Marine Services Inc. said Monday that it may be forced to seek bankruptcy protection.

Trico said in a filing with the U.S. Securities and Exchange Commission that it does not expect to be able to make a convertible notes payment that is due Thursday. The failure to do so could mean that the company will default on its credit agreements, which could potentially constitute an event of default under all its outstanding...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers