LaForta Gestao takes in $60 million winning bid for drilling rig

By Sarah Lizee

Olympia, Wash., Nov. 1 – LaForta Gestao e Investimentos Sociedade Unipessoal LDA announced the winning and backup bids for La Muralla IV, an ultra-deepwater semi-submersible drilling rig, according to a notice filed with the U.S. Bankruptcy Court for the Southern District of Texas.

The winning bid is from Operadora Cicsa, SA de CV, which offered a purchase price of $60 million.

The backstop lenders’ $40 million credit bid was named backup bid.

LaForta canceled an auction previously set for Wednesday.

A sale hearing is scheduled for Nov. 15.

As previously reported, the company negotiated with backstop lenders to include credit bid caps to ensure the nearly $1 billion in debtor-in-possession lender and noteholder claims do not chill bidding.

The credit bid cap had been set at $90 million, and the floor was set at $40 million.

The Funchal, Portugal-based ultra-deepwater semi-submersible drilling rig owner is a wholly owned subsidiary of non-debtor Offshore Drilling Holding SA. It filed bankruptcy on June 16 under Chapter 11 case number 22-90126.

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