Hermitage Offshore gets 90-day extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., Jan. 4 – Hermitage Offshore Services Ltd. secured a 90-day extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to an order filed Monday in the U.S. Bankruptcy Court for the Southern District of New York.

Specifically, the court extended the plan filing period through March 9 and the solicitation period through May 8.

Having consummated the sales of their offshore support vessels, the debtors are now focused on negotiating a Chapter 11 plan with their major stakeholders, the company said in its motion.

Hermitage Offshore said the extension will not prejudice any parties in interest but will allow the plan negotiation process to proceed, afford the debtors time to obtain confirmation of the plan and promote the debtors’ goal of maximizing value for their stakeholders.

Hermitage Offshore is a Hamilton, Bermuda-based offshore support vessel company that owns vessels operating primarily in the North Sea or the West Coast of Africa. The company filed bankruptcy on Aug. 11 under Chapter 11 case number 20-11850.

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