Trico Marine Services eyes Aug. 10 plan of liquidation effective date

By Caroline Salls

Pittsburgh, Aug. 5 - Trico Marine Services, Inc.'s expects its plan of liquidation to take effect on Wednesday if specified conditions are satisfied or waived, according to an 8-K filed Friday with the Securities and Exchange Commission.

As previously reported, the plan was confirmed on Aug. 2 by the U.S. Bankruptcy Court for the District of Delaware.

Trico said the plan will take effect upon satisfaction or waiver of the execution of all actions, documents and agreements necessary to implement the plan.

In addition, the plan will take effect if the confirmation order has not been stayed or if the stay condition is waived.

According to the 8-K, the Chapter 11 Cases of Trico Marine Cayman, LP and Trico Holdco, LLC will be dismissed on the plan effective date. Each of the plan debtors will be dissolved after liquidation is complete.

Trico, a marine services company based in the Woodlands, Texas, filed for bankruptcy on Aug. 25, 2010. The Chapter 11 case number is 10-12653.

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