Tidewater Hits Ch. 11 With Plan To Rework $2B In Debt

Law360, Wilmington (May 18, 2017, 5:56 PM EDT) -- Offshore oil sector services vessel company Tidewater Inc. filed for Chapter 11 protection late Wednesday in Delaware with a prepackaged Chapter 11 plan that aims for a quick restructuring of its roughly $2 billion in debt in part with an equity swap.

In papers filed with the Delaware bankruptcy court, Tidewater, which filed with several of its subsidiaries, said it is hoping to move its case through Chapter 11 on an expedited timetable that would see a confirmation of its restructuring plan by late June....
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