Superior Offshore Ch. 11 Plan Trumps Rival Ch. 7 Bid
At the same time, Judge Wesley Steen of the U.S. Bankruptcy Court for the Southern District of Texas ruled against a move by Louis E. Schaefer Jr., Superior Offshore's founder, to convert the bankruptcy into a Chapter 7 liquidation.
The approved liquidation plan was filed on Jan. 9 amid a bitter fight between Superior Offshore and an independent equity committee,...
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