Trico Wins Confirmation Of Ch. 11 Liquidation Plan

Law360, Wilmington (August 2, 2011, 4:19 PM EDT) -- Trico Marine Services Inc. won a Delaware bankruptcy court's blessing Tuesday for its chapter 11 liquidation plan, clearing the defunct marine oil services company to distribute about $37 million to creditors.

The order ends a year-long stay in court protection that saw Trico spin-off its operating subsidiaries into a new venture — Norway-based DeepOcean Group Holding AS — while selling off several of its oil services vessels to pay back creditors. 

U.S. Bankruptcy Judge Brendan L. Shannon signed off on the plan, praising counsel on all...
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