November 16, 2017 / 12:37 PM / a year ago

GulfMark's Ch. 11 in effect after financing secured

Offshore energy services company GulfMark Offshore said in court papers on Tuesday its Chapter 11 restructuring plan had gone into effect after some last minute moves to nail down $125 million in financing.

GulfMark filed court papers on Monday saying it had yet to finalize the terms of its financing for its exit from bankruptcy. The company said some of its noteholders had made additional demands that held up the deal, which had been expected to close on Nov. 9.

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