Oilfield Services Co. Creditors Fault Ch. 11 Disclosure

By Nathan Hale (October 22, 2021, 8:01 PM EDT) -- OFS International's official committee of unsecured creditors has told a Texas bankruptcy judge it won't support the oilfield services outfit's reorganization plan without more information about proposed contributions from the debtor's largest equity holder to let him retain his stake in the company. 

In an objection filed late Thursday to OFS' motion for conditional approval of its Chapter 11 disclosure statement and solicitation of approval of its reorganization plan, the committee said that it does not object to Konstantin Semerikov retaining ownership of a reorganized OFSI Holding LLC and its subsidiaries, but said the disclosure statement does not show whether his new...

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