Superior Offshore granted one-month exclusivity extension

By Jennifer Lanning Drey

Portland, Ore., Oct. 20 - Superior Offshore International, Inc. obtained a 30-day extension to its exclusive periods to file a plan of reorganization and solicit votes on the plan Monday from the U.S. Bankruptcy Court for the Southern District of Texas, according to a source familiar with the case.

The exclusive plan-filing period was extended to Nov. 20 from Oct. 21 and the solicitation period to Jan. 21 from Dec. 22.

According to the motion requesting the extension, Superior was scheduled to meet with its official committee of unsecured creditors and official equity holders committee on Oct. 16 to discuss formation of a consensual reorganization plan.

The company said the committees asked it not to file a plan before the meeting.

Superior Offshore, a Houston-based provider of subsea construction and commercial diving services to the crude oil and natural gas exploration and production industries and gathering and transmission industries, filed for bankruptcy on April 24. Its Chapter 11 case number is 08-32590.

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