Chapter 11 Filings and Sale Process FAQs
|
|
- Helena Hill
- 5 years ago
- Views:
Transcription
1 June 6, 2016 These are based on the Company s knowledge on the date hereof. The may not contain all the information that is relevant for your purposes. Please see our public filings with the Securities and Exchange Commission for additional information. Chapter 11 Filings and Sale Process 1. What are the key terms of the Chapter 11 Plan? Under the terms of the Plan, all of the Company s assets will be marketed for sale, and those left unsold at the completion of the Chapter 11 process will be placed into a wind-down vehicle to ensure their continued, safe operation until sales are finalized. The Company s international subsidiaries are not included as part of the Chapter 11 cases but will be part of the sale process. Hercules s Plan is unique because the Company s largest lenders (generally among the first groups to be paid in a Chapter 11 case) have given other stakeholders priority. As a result, the Company s suppliers will be paid in full, and shareholders will receive both an upfront payment at the conclusion of the Chapter 11 cases as well as a share of the sale proceeds, assuming the shareholder class votes to approve the Plan. If the shareholder class votes to reject the Plan, shareholders will have to wait for the lenders to be paid in full before they receive any recovery. The lender group will be paid from a combination of cash on hand and sale proceeds, dividing the sale proceeds based on a waterfall if the shareholder class votes to accept the Plan. 2. What are the next steps in the process? The Company expects to complete the Chapter 11 process in a timely manner, at which point all of the unsold assets will be put into a wind down vehicle until they are sold. All rigs and liftboats currently under contract, both in the U.S. and internationally, are expected to maintain operations as usual throughout the sale process. 3. How does the Chapter 11 filing and sale process impact day-to-day operations? The Company intends to operate its rigs and liftboats as usual and to uphold its commitments to customers throughout the sale process. Employees in the field should see little change in their day-to-day responsibilities until a sale is complete. The Company s corporate office in Houston will continue to support ongoing operations while also preparing its assets for sale. 1 of 6
2 4. Why has Hercules filed for chapter 11 protection for a second time? On November 6, 2015, Hercules completed its initial financial restructuring under Chapter 11 of the U.S. Bankruptcy Code with a new $450 million senior secured credit facility in place. Since this time, the ongoing decline in oil prices, the consolidation of its U.S. customer base and the addition of new capacity have negatively impacted dayrates and demand for Hercules's services. On February 11, 2016, the Company announced the formation of a Special Committee comprised of all the independent members of its Board of Directors to explore strategic alternatives. The decision was made to enter into a Restructuring Support Agreement on May 26, 2016, to maximize value for stakeholders and ensure a smooth transition for customers, suppliers and employees. Today's Chapter 11 announcement is the next step for the Company and follows a thorough sale process, which did not yield results that would have been better for stakeholders than what is contemplated by the Chapter 11 Plan. 5. What entities are included in the Chapter 11 cases? The Chapter 11 cases include Hercules and certain of its U.S. subsidiaries. The Company s international businesses are not included in the case but will be a part of the sale process. 6. How is this chapter 11 case different from the case initiated in August? The key difference is the Company s end goal. In its first Chapter 11 case, Hercules significantly reduced its debt with the business objective of overcoming global challenges that are deeply impacting the offshore drilling sector. Unfortunately, since then, market conditions have worsened. As a result, the Company has determined that the best means of protecting the interests of its employees, customers, suppliers, lenders, shareholders and other business partners is to move forward with an orderly sale of its assets. The Chapter 11 process helps to preserve business continuity for these assets, which in turn, helps to maximize the value of future sales. International entities are not included in the Chapter 11 Cases but will be included in the sale process. They will continue to operate as usual throughout the sale process. 7. Which assets are for sale? All of the Company s assets are included in the sale process, including those that are not included in the Chapter 11 filings. 8. How will the chapter 11 process help to facilitate the asset sales? The Chapter 11 process helps to preserve business continuity for these assets, which in turn, helps to maximize the value of future sales. It also allows the Company to settle creditor claims and address legacy liabilities, so buyers may purchase the assets free and clear of these obligations. 2 of 6
3 9. What happened to the Hercules Highlander? As announced on May 27, 2016, the Company entered into a definitive agreement to transfer the right to acquire the newbuild harsh environment jackup rig, formerly named Hercules Highlander, to a subsidiary of Maersk Drilling. According to the agreement, Maersk Highlander UK Ltd. succeeds to the right to take delivery of the rig and has paid Jurong Shipyard Pte Ltd ("Jurong") in Singapore for the Highlander. 10. Where can I get additional information? Additional information is available at Questions also may be directed to the Company s dedicated hotline at +1 (855) (International: +1 (917) ) or via at herculesinfo@primeclerk.com. Employee 11. How does this announcement affect my job and day-to-day responsibilities? As of today, all employees should continue to report to work as scheduled and will be paid as usual. Employees onshore and offshore are expected to continue to perform their jobs safely and in full compliance with all Company policies and procedures. Looking ahead, Hercules intends to operate all of its rigs and liftboats currently under contract as usual throughout the sale process. Employees associated with these rigs and vessels should see little change. The Company will continue to assess its needs for onshore employees to ensure it is operating its business as efficiently as possible. 12. Will I continue to be paid as usual? Yes. All employees should expect to be paid as usual for all hours worked. 13. Will there be any changes to Hercules benefit programs? No. Hercules is taking all of the necessary steps to ensure its employee benefit programs continue without interruption. We do not expect that you will see any interruption in your pay or benefits. 14. Will I be reimbursed for business expenses? Yes. Hercules has taken the necessary steps to ensure it is able to repay qualifying business expenses. All of the usual policies still apply. 3 of 6
4 15. Will the Company s severance policy be honored? Pending Court approval of its First Day Motion regarding the continuation of employee wages and benefits, Hercules expects to continue all of its benefit programs, including its severance programs. All of the usual eligibility requirements will still apply. 16. If I am an employee working outside of the U.S., how does this process affect me? Hercules s international businesses are not part of the filing. These businesses are operating as usual, which means employees should report to work as scheduled and will be paid as usual. 17. What should I say if I m asked about the Chapter 11 or sale process? There are two key places to direct people for additional information about this process. The first is the restructuring section of the Hercules website, The second is a dedicated hotline, which may be reached at +1 (855) (International: +1 (917) ) or via at herculesinfo@primeclerk.com. If you are uncertain about how to direct a question, please speak with your manager. Supplier 18. Will Hercules continue to purchase supplies? Yes. Hercules expects to operate all of our rigs and liftboats currently under contract as usual until they are sold. Accordingly, we also will continue to purchase related supplies. 19. Will suppliers be paid? The Chapter 11 Plan allows suppliers to be paid in full for everything they are owed. The Company has also filed a First Day Motion that, once approved by the Court, will allow suppliers to be paid in the normal course, rather than waiting until the end of the Chapter 11 cases. 20. How will the wind-down vehicle be funded? How can I be sure the Company will have the financial resources to pay for future deliveries? Hercules has the necessary cash on hand to fund operations throughout the Chapter 11 cases and sale process. Appropriate funding will be transferred to the wind down-vehicle when it is established and suppliers will be paid from these accounts. 4 of 6
5 21. Can I change the terms to require cash on delivery (COD)? There is absolutely no reason for suppliers to seek modifications to current contract terms. All suppliers are expected to be paid in full under the normal terms of their agreements with Hercules. 22. Is there anything I need to do to ensure my Company is paid for goods and services already delivered to Hercules Offshore? All suppliers are expected to be paid in the normal course of business. There is nothing extra you need to do. 23. Why should I continue doing business with you now? All suppliers are expected to be paid in full under the normal terms of their agreements with Hercules. Accordingly, there is no reason for suppliers to stop shipping. You may also have the opportunity to continue to do business with the future owners of the asset by continuing your shipments. Customer 24. Can I exit my contract with Hercules based on the anticipated change in ownership? Hercules is operating as usual and is working diligently to ensure a smooth transition for our customers. There is no reason to change service providers. 25. How will you be able to maintain the same standards for customer services throughout this process? We are maintaining our current offshore workforce and operating our rigs and vessels as usual. As a result, there is no reason to expect any change in your day-to-day interactions with or services from our Company. Investor 26. What happens to the remaining value of my Hercules shares? Shareholders will receive an upfront payment at the conclusion of the Chapter 11 cases as well as a share of the subsequent sale proceeds proportional to their holdings, assuming shareholders as a class vote to approve the Chapter 11 Plan. If shareholders vote to reject the Plan, they will have to wait for all other creditors to be paid in full in cash before they receive 5 of 6
6 any recovery on their shares. Please refer to the Company s 8-K filed on May 27, 2016 for more detail on shareholders recovery waterfall. The Company strongly encourages shareholders to vote in favor of the Chapter 11 Plan because the Company believes shareholders will receive greater value if they accept as opposed to reject the Plan. The Company cannot say with certainty what the total recovery will be until the asset sales are complete, but we are fully committed to ensuring that we maximize value for all stakeholders, including equity investors. 27. Can I still trade my shares? The Company expects shares will continue to trade through the completion of the Chapter 11 process on the OTC Market. Upon the effective date of the Plan, the Company s assets will be transferred to a wind-down vehicle. Interests in the wind-down vehicle are not expected to be transferable. 28. Should I sell my shares? The Company cannot advise you in these decisions. Please contact a financial and tax advisor if you have questions about managing your portfolio. These are for information purposes only and are not a solicitation to accept or reject any proposals herein or an offer to sell or a solicitation of an offer to buy any securities of the Company. Cautionary Statement Statements above that are not historical fact are forward-looking statements, including the matters related to the restructuring and the impact of the restructuring on our investors, operations, customers, vendors and employees. Forward-looking statements by their nature involve substantial risks, uncertainties and assumptions, including without limitation, market conditions, government and regulatory actions and other factors described in the risks and uncertainties described in our periodic reports filed with the Securities and Exchange Commission. Many of these factors are beyond our ability to control or predict. 6 of 6
A little more detail about the nature of the Chapter 11 process for suppliers:
To Our Valued Business Partners, As you might know, we have been working closely with our advisors and key stakeholders since the spring of 2018 to address our matured debt and strengthen our balance sheet.
More informationscc Doc 731 Filed 07/31/18 Entered 07/31/18 14:35:02 Main Document Pg 1 of 15
Pg 1 of 15 UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF NEW YORK - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - x : In re: : Chapter 11 : TOISA LIMITED, et al., : Case No. 17-10184
More informationTRANSMAR COMMODITY GROUP LTD. ( TCG or THE COMPANY ) 2. Why did TCG file for protection under Chapter 11 of the U.S. Bankruptcy Code?
TRANSMAR COMMODITY GROUP LTD. ( TCG or THE COMPANY ) Frequently Asked Questions General Questions 1. What is Chapter 11? Chapter 11 of the U.S. Bankruptcy Code is a legal mechanism for court supervised
More informationReverse Mortgage Solutions, Inc Walters Road, Suite 200, Houston, TX T rmsnav.com
1. What was announced? Ditech Holding Corporation and certain of its subsidiaries including Ditech Financial LLC and (collectively with Ditech Holding, the Company ) entered into a Restructuring Support
More informationCase Doc 21 Filed 10/04/18 Page 1 of 8 IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE
Case 18-12221 Doc 21 Filed 10/04/18 Page 1 of 8 IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE ) In re: ) Chapter 11 ) ATD CORPORATION, et al., 1 ) Case No. 18-12221 ( ) ) Debtors.
More informationOCEAN RIG UDW INC. ANNOUNCES THAT THE CAYMAN COURT HAS SANCTIONED THE SCHEMES OF ARRANGEMENT RELATING TO UDW AND THE OTHER SCHEME COMPANIES
OCEAN RIG UDW INC. ANNOUNCES THAT THE CAYMAN COURT HAS SANCTIONED THE SCHEMES OF ARRANGEMENT RELATING TO UDW AND THE OTHER SCHEME COMPANIES The Schemes have been approved by the Cayman Court and the court
More informationOCEAN RIG UDW INC. ANNOUNCES DECISION BY U.S. BANKRUPTCY COURT GRANTING RECOGNITION OF CAYMAN PROCEEDINGS AS FOREIGN MAIN PROCEEDINGS
OCEAN RIG UDW INC. ANNOUNCES DECISION BY U.S. BANKRUPTCY COURT GRANTING RECOGNITION OF CAYMAN PROCEEDINGS AS FOREIGN MAIN PROCEEDINGS U.S. Bankruptcy Court Issues Memorandum Opinion and Order Granting
More informationForward Looking Statements
Forward Looking Statements This presentation includes forward looking statements. Such statements are generally not historical in nature, and specifically include statements about the Company s plans,
More informationPARAGON OFFSHORE REPORTS THIRD QUARTER 2016 RESULTS AND PROVIDES FLEET STATUS REPORT
Paragon Offshore plc 3151 Briarpark Drive Suite 700 Houston, Texas 77042 PRESS RELEASE PARAGON OFFSHORE REPORTS THIRD QUARTER 2016 RESULTS AND PROVIDES FLEET STATUS REPORT Third quarter 2016 revenues of
More informationOCEAN RIG UDW INC. ANNOUNCES THE COMPLETION OF ITS RESTRUCTURING AND THE OCCURRENCE OF THE RESTRUCTURING EFFECTIVE DATE
OCEAN RIG UDW INC. ANNOUNCES THE COMPLETION OF ITS RESTRUCTURING AND THE OCCURRENCE OF THE RESTRUCTURING EFFECTIVE DATE Restructuring Effective Date has occurred. Details of Reverse Stock Split and details
More informationWASHINGTON,D.C FORM6-K. DateofReport:November12,2017. CommissionFileNumber ,AvenuedelaGare. L-1610Luxembourg
UNITEDSTATES SECURITIESANDEXCHANGECOMMISSION WASHINGTON,D.C.20549 FORM6-K REPORTOFFOREIGNPRIVATEISSUER PURSUANTTORULE13a-16OR15d-16 UNDERTHESECURITIESEXCHANGEACTOF1934 DateofReport:November12,2017 CommissionFileNumber001-35345
More informationscc Doc 1170 Filed 04/04/19 Entered 04/04/19 14:38:37 Main Document Pg 1 of 41
Pg 1 of 41 TOGUT, SEGAL & SEGAL LLP One Penn Plaza Suite 3335 New York, New York 10119 (212) 594-5000 Frank A. Oswald Brian F. Moore Counsel to the Debtors UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT
More informationNon-U.S. Subsidiaries Are Not Included in U.S. Filing and Are Not Subject to Court Supervision or Chapter 11 Process
CONTACT: Delphi Media Contacts Claudia Baucus 248-813-2942 Lindsey Williams 248-813-2528 Brad Jackson 248-813-6873 Delphi Corporation Files Voluntary Chapter 11 Business Reorganization Cases to Execute
More informationOur wind down services
Explore the value in winding down Our wind down services Our wind down services Our Financial Advisory team specializes in providing wind down and dispute resolution services to the investment fund industry
More informationNorth Atlantic Drilling Ltd. Second quarter 2017 results. August 24, 2017
North Atlantic Drilling Ltd. Second quarter 2017 results August 24, 2017 Forward looking statements This presentation includes forward looking statements. Such statements are generally not historical in
More informationPareto Securities 23rd Annual Oil & Offshore Conference
Pareto Securities 23rd Annual Oil & Offshore Conference September 14-15, 2016 Oslo, Norway www.paragonoffshore.com Safe Harbor Statement This material contains statements that are forward looking statements
More informationMarine/Offshore Industry Outlook Conference. Terry Bonno, SVP Industry and Community Relations March 22, 2018
Marine/Offshore Industry Outlook Conference Terry Bonno, SVP Industry and Community Relations March, 08 LEGAL DISCLAIMER The statements described in this presentation that are not historical facts are
More informationONTARIO SUPERIOR COURT OF JUSTICE COMMERCIAL LIST. IN THE MATTER OF THE COMPANIES CREDITORS ARRANGEMENT ACT, R.S.C. 1985, c.
Court File No.: CV-16-11452-00CL ONTARIO SUPERIOR COURT OF JUSTICE COMMERCIAL LIST IN THE MATTER OF THE COMPANIES CREDITORS ARRANGEMENT ACT, R.S.C. 1985, c. C-36, AS AMENDED AND IN THE MATTER OF A PLAN
More informationBANCO BILBAO VIZCAYA ARGENTARIA, S.A., ( BBVA ) EMIR Article 39(7) CLEARING MEMBER DISCLOSURE DOCUMENT
Version: February 2015 BANCO BILBAO VIZCAYA ARGENTARIA, S.A., ( BBVA ) EMIR Article 39(7) CLEARING MEMBER DISCLOSURE DOCUMENT Introduction Throughout this document references to we, our and us are references
More informationUnaudited First Quarter ( 1Q 2018 ) Financial Statement and Dividend Announcement For the Three Months Ended 31 March 2018 ( 3M 2018 )
PACIFIC RADIANCE LTD Company Registration No. 200609894C Unaudited First Quarter ( 1Q 2018 ) Financial Statement and Dividend Announcement For the Three Months Ended 31 March 2018 ( 3M 2018 ) PART I -
More informationCITI GLOBAL ENERGY AND UTILITIES CONFERENCE. Bradley Alexander, Vice President Investor Relations May 15-16, 2018
CITI GLOBAL ENERGY AND UTILITIES CONFERENCE Bradley Alexander, Vice President Investor Relations May 5-6, 208 LEGAL DISCLAIMER The statements described in this presentation that are not historical facts
More informationFORECLOSURES. I m behind in my mortgage payments, what should I do?
FORECLOSURES This flyer was prepared by Legal Services of Greater Miami, Inc.(LSGMI) with support from the Institute for Foreclosure Legal Assistance. LSGMI represents homeowners in foreclosure and homeowners
More informationTRANSOCEAN LTD. PROVIDES FLEET UPDATE SUMMARY
Transocean Ltd. Investor Relations and Corporate Communications Analyst Contacts: Thad Vayda +1 713-232-7551 Diane Vento +1 713-232-8015 News Release Media Contact: Pam Easton FOR RELEASE: February 17,
More informationFinancial Report For the Period Ended March 31, 2018
Financial Report For the Period Ended March 31, 2018 This report comments on the operating and financial performance of Shelf Drilling, Ltd (the Company ) and on the summary table of results set out on
More informationTerry Bonno, SVP Industry and Community Relations March 1, 2017
DNB Oil, Offshore & Shipping Conference Terry Bonno, SVP Industry and Community Relations March 1, 2017 Legal Disclaimer The statements described in this presentation that are not historical facts are
More informationSeadrill Investor Presentation Pareto Securities Oil & Offshore Conference, Oslo 12 September 2018
Seadrill Investor Presentation Pareto Securities Oil & Offshore Conference, Oslo 12 September 2018 Disclaimer We have prepared this document solely for informational purposes. You should not definitively
More informationOCEAN RIG UDW INC. ANNOUNCES DATE OF CONVENING HEARINGS FOR SCHEME COMPANIES AND EXTENSION OF DRH EARLY CONSENT DEADLINE
OCEAN RIG UDW INC. ANNOUNCES DATE OF CONVENING HEARINGS FOR SCHEME COMPANIES AND EXTENSION OF DRH EARLY CONSENT DEADLINE Convening hearings in relation to the proposed schemes of arrangement for Ocean
More informationAn Attorney s Options for Handling Clients in Trouble with Real Estate. Aka: Forbearance to Bankruptcy and Everything in Between
An Attorney s Options for Handling Clients in Trouble with Real Estate Aka: Forbearance to Bankruptcy and Everything in Between Erica Crohn Minchella ~ Attorney at Law 7538 St. Louis Ave Skokie, IL 60076
More informationTRANSOCEAN LTD. PROVIDES FLEET UPDATE SUMMARY
Transocean Ltd. Investor Relations and Corporate Communications Analyst Contacts: Thad Vayda +1 713-232-7551 Diane Vento +1 713-232-8015 News Release Media Contact: Pam Easton FOR RELEASE: May 18, 2015
More informationNAM CHEONG LIMITED (Incorporated in Bermuda) (Company Registration Number 25458) RESPONSE TO SIAS QUERIES IN RELATION TO THE 2017 ANNUAL REPORT
NAM CHEONG LIMITED (Incorporated in Bermuda) (Company Registration Number 25458) RESPONSE TO SIAS QUERIES IN RELATION TO THE 2017 ANNUAL REPORT The Board of Directors (the Board ) of Nam Cheong Limited
More informationTRANSOCEAN LTD. PROVIDES FLEET UPDATE SUMMARY
Transocean Ltd. Investor Relations and Corporate Communications Analyst Contacts: Thad Vayda +1 713-232-7551 Diane Vento +1 713-232-8015 News Release Media Contact: Pam Easton FOR RELEASE: June 22, 2015
More informationOCEAN RIG UDW INC. REPORTS FINANCIAL AND OPERATING RESULTS FOR THE FOURTH QUARTER 2016
OCEAN RIG UDW INC. REPORTS FINANCIAL AND OPERATING RESULTS FOR THE FOURTH QUARTER 2016 February 22, 2017, Grand Cayman, C a y m a n I s l a n d s - Ocean Rig UDW Inc. (NASDAQ:ORIG), or Ocean Rig or the
More informationTrident Procedures for the Sale and Investor Solicitation Process
Trident Procedures for the Sale and Investor Solicitation Process On September 8, 2009, Trident Exploration Corp. ( TEC ), certain of its Canadian subsidiaries (Fort Energy Corp., Fenergy Corp., 981384
More informationMaersk Drilling Q May 2014
Maersk Drilling Q1 2014 22 May 2014 Legal notice This presentation contains certain forward looking statements (all statements that are not entirely based on historical facts, among others expectations
More informationNorth Atlantic Drilling Ltd.
North Atlantic Drilling Ltd. Fourth quarter 2013 results February 25, 2014 Forward-Looking Statements The statements described in this presentation that are not historical facts are forwardlooking statements
More informationFLEET STATUS REPORT 7 FEBRUARY 2019
FLEET STATUS REPORT 7 FEBRUARY 2019 Page 2 of 6 Provides Quarterly This fleet status report provides the current contract status for s fleet of offshore drilling rigs. In the fourth quarter of 2018, the
More informationPACIFIC DRILLING S.A.
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 Date of Report:
More informationSEACOR Marine Holdings Inc. (Exact Name of Registrant as Specified in Its Charter)
(Mark One) UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period
More informationScottish Re Group Limited Announces a Sale and Restructuring Plan and the Commencement of Chapter 11 Proceedings by Certain of its Subsidiaries
Scottish Re Group Limited Announces a Sale and Restructuring Plan and the Commencement of Chapter 11 Proceedings by Certain of its Subsidiaries January 29, 2018 12:09 AM Eastern Standard Time HAMILTON,
More informationTRANSOCEAN LTD. PROVIDES FLEET UPDATE SUMMARY
Transocean Ltd. Investor Relations and Corporate Communications Analyst Contacts: Thad Vayda +1 713-232-7551 Diane Vento +1 713-232-8015 News Release Media Contact: Pam Easton FOR RELEASE: September 22,
More informationHouston - May 9, 2017
Morgan Stanley Energy Conference Morgan Stanley Energy Conference Houston - May 9, 2017 Legal Disclaimer The statements described in this presentation that are not historical facts are forward-looking
More informationMarine Money Hong Kong Ship Finance Forum Restructure, Consolidation and Opportunity 7 April 2016 Peter Lee
Marine Money Hong Kong Ship Finance Forum Restructure, Consolidation and Opportunity 7 April 2016 Peter Lee Acknowledgement Foreign Shipping Companies Will Test The Limits of Bankruptcy Jurisdiction, The
More informationFinancial Report For the Period Ended September 30, 2017
Financial Report For the Period Ended September 30, 2017 This report comments on the operating and financial performance of Shelf Drilling, Ltd (the Company ) and on the summary table of results set out
More informationANNOUNCEMENT PROPOSED RENOUNCEABLE NON-UNDERWRITTEN RIGHTS ISSUE OF SHARES DESPATCH OF THE OFFERING CIRCULAR AND ITS ACCOMPANYING DOCUMENTS
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES. THE MATERIAL SET OUT HEREIN IS NOT INTENDED, AND SHOULD NOT BE CONSTRUED, AS AN OFFER FOR SALE OF THE
More informationBID PROCEDURES Determination of Qualified Bidder Status
BID PROCEDURES The following Bid Procedures shall govern the auction process for the sale of the property, located at 9440 S. Center Highway, Traverse City, MI, (collectively, the Real Property ) by Cherry
More informationCHC Group Announces $450 Million in Commitments to Recapitalize the Company
CHC Group Announces $450 Million in Commitments to Recapitalize the Company Key Parties Execute Plan Support Agreement with Milestone Aviation to Serve as Lead Lessor IRVING, TEXAS, October 11, 2016 CHC
More informationOCEAN RIG ANNOUNCES OVER 75% SUPPORT FOR RESTRUCTURING AGREEMENT FROM HOLDERS OF THE COMPANY'S CONSOLIDATED INDEBTEDNESS
OCEAN RIG ANNOUNCES OVER 75% SUPPORT FOR RESTRUCTURING AGREEMENT FROM HOLDERS OF THE COMPANY'S CONSOLIDATED INDEBTEDNESS April 5, 2017 Grand Cayman, Cayman Islands Ocean Rig UDW Inc. (NASDAQ: ORIG) (the
More informationReceipt of Scheme Entitlements Notice of applicable deadlines
REMINDER TO SCHEME CREDITORS IN RELATION TO APPLICABLE DEADLINES FOR SUBMISSION OF DOCUMENTATION REQUIRED FOR RECEIPT OF SCHEME ENTITLEMENTS AND DATE OF SCHEME SANCTION AND ENFORCEMENT HEARINGS 24 August,
More informationPURCHASE ORDER TERMS AND CONDITIONS
PURCHASE ORDER TERMS AND CONDITIONS 1. SUPPLY OF GOODS AND/OR SERVICES 1.1 In consideration or payment of the Price by the Company, the Contractor must supply the Goods and/or provide the Services to the
More informationICON Leasing Fund Twelve Liquidating Trust
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q [x] Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended
More informationForward Looking Statements
Forward Looking Statements This presentation includes forward looking statements. Such statements are generally not historical in nature, and specifically include statements about the Company s plans,
More informationDeutsche Bank EMIR Article 39(7) and MiFID II RTS 6 Article 27(2) Clearing Member Disclosure Document
Deutsche Bank EMIR Article 39(7) and MiFID II RTS 6 Article 27(2) Clearing Member Disclosure Document November 2017 1 Clearing Member Disclosure Document Introduction Throughout this document references
More informationToys-Delaware Settlement Agreement Frequently Asked Questions 1
Toys-Delaware Settlement Agreement Frequently Asked Questions 1 1. Question: What will administrative creditors receive under the Settlement Agreement? Answer: Administrative Claim Holders that are eligible
More informationGOLDMAN SACHS GLOBAL ENERGY CONFERENCE. Mark Mey, Executive Vice President and Chief Financial Officer January 8, 2019
GOLDMAN SACHS GLOBAL ENERGY CONFERENCE Mark Mey, Executive Vice President and Chief Financial Officer January 8, 209 LEGAL DISCLAIMER Forward Looking Statements The statements described in this presentation
More informationAppendix A. SISP Procedures
Appendix A SISP Procedures Procedures for the Sale and Investment Solicitation Process 1. On September 1, 2016, the Court of Queen's Bench of Alberta (the "Court") made an order (the "Receivership Order")
More informationHOMEOWNER WELCOME PACKAGE. Short Sale Frequently Asked Questions
HOMEOWNER WELCOME PACKAGE Welcome to LA City Short Sales! We understand that this can be a challenging and stressful time in your life and our goal is to make the short sale process as easy as possible
More informationCase GLT Doc 10 Filed 05/16/17 Entered 05/16/17 02:20:07 Desc Main Document Page 1 of 9
Document Page 1 of 9 IN THE UNITED STATES BANKRUPTCY COURT FOR THE WESTERN DISTRICT OF PENNSYLVANIA In re: rue21, inc., et al., 1 Case No. 17-22045 (GLT Debtors. Chapter 11 (Joint Administration Requested
More informationRowan and Saudi Aramco New Offshore Drilling Company. Investor Presenta,on November 2016
Rowan and Saudi Aramco New Offshore Drilling Company Investor Presenta,on November 2016 1 Forward-Looking Statements Statements herein that are not historical facts are forward looking statements within
More informationCase Document 732 Filed in TXSB on 04/02/18 Page 1 of 14
Case 17-36709 Document 732 Filed in TXSB on 04/02/18 Page 1 of 14 IN THE UNITED STATES BANKRUPTCY COURT FOR THE SOUTHERN DISTRICT OF TEXAS HOUSTON DIVISION ) In re: ) Chapter 11 ) COBALT INTERNATIONAL
More informationHERCULES OFFSHORE, INC.
HERCULES OFFSHORE, INC. FORM 10-Q (Quarterly Report) Filed 08/01/13 for the Period Ending 06/30/13 Address 9 GREENWAY PLAZA, SUITE 2200 HOUSTON, TX, 77046 Telephone 713-979-9300 CIK 0001330849 SIC Code
More informationICON Leasing Fund Twelve Liquidating Trust (Exact Name of Registrant as Specified in Charter)
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report: January 18, 2017 ICON
More information- and - - and - KPMG INC.
CANADA PROVINCE OF QUEBEC DISTRICT OF QUEBEC DIVISION: 01-MONTREAL S.C.: 500-11-051625-164 500-11-051624-167 IN THE MATTERS OF THE NOTICES OF INTENTION AND OF THE INTERIM RECEIVERSHIP OF: S U P E R I O
More informationOUT OF COURT RESTRUCTURING PRINCIPLES
Wholesale NPL 1 OUT OF COURT RESTRUCTURING PRINCIPLES AND ALLIANCE WITH LEGAL FRAMEWORK Theodore J. Athanassopoulos Executive General Manager NPL Wholesale Alpha Bank Group Wholesale NPL 2 The purpose
More informationSTATE OF RHODE ISLAND AND PROVIDENCE PLANTATIONS PUBLIC UTILITIES COMMISSION. IN RE: Block Island Power Company : Docket No General Rate Filing
STATE OF RHODE ISLAND AND PROVIDENCE PLANTATIONS PUBLIC UTILITIES COMMISSION IN RE: Block Island Power Company : Docket No. General Rate Filing BLOCK ISLAND POWER COMPANY S MOTION FOR INTERIM RELIEF Pursuant
More informationPACIFIC DRILLING S.A. (Translation of registrant s name into English)
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 Date of Report:
More informationTerms used but not defined in this announcement shall have the meaning given to them in the Explanatory Statement dated 21 July 2017.
ANNOUNCEMENT IN THE MATTERS OF SCHEMES OF ARRANGEMENT UNDER SECTION 86 OF THE COMPANIES LAW (2016 REVISION) OF THE CAYMAN ISLANDS RELATING TO DRILLSHIPS FINANCING HOLDING INC., OCEAN RIG UDW INC., DRILL
More informationUNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MINNESOTA DECLARATION OF PETER A. RICHICHI IN SUPPORT OF CHAPTER 11 PETITIONS AND INITIAL MOTIONS
Document Page 1 of 20 UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MINNESOTA In re: Chapter 11 WYNIT DISTRIBUTION, LLC, et. al.1 Case No. 17-[ ] ([ ]) Debtors. Joint Administration Pending DECLARATION
More informationShip Finance International Limited (NYSE: SFL) - Earnings Release. Reports preliminary Q results and quarterly cash dividend of $0.
Ship Finance International Limited (NYSE: SFL) - Earnings Release Reports preliminary Q3 2018 results and quarterly cash dividend of $0.35 per share Hamilton, Bermuda, November 20, 2018. Ship Finance International
More informationCase Doc 2 Filed 02/18/19 Page 1 of 17 IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE. Chapter 11
Case 19-10316 Doc 2 Filed 02/18/19 Page 1 of 17 IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE In re: BEAVEX HOLDING CORPORATION, et al., 1 Debtors. Chapter 11 Case No. 19-10316 ( )
More informationCayman Islands: Restructuring & Insolvency
The In-House Lawyer: Comparative Guides Cayman Islands: Restructuring & Insolvency inhouselawyer.co.uk /index.php/practice-areas/restructuring-insolvency/cayman-islands-restructuringinsolvency/ 5/3/2017
More information8840 Columbia 100 Parkway, Columbia, MD
American Bankruptcy Institute Commission to Study the Reform of Chapter 11 Testimony of Sandra Schirmang, CCE, ICCE Senior Director of Credit Kraft Foods Global, Inc. First, I'd like to thank the Commission
More informationTransocean s Presentation: Agreement to Acquire Songa Offshore August 15, 2017
Transocean s Presentation: Agreement to Acquire Songa Offshore August 15, 2017 Legal Disclaimer The statements described in this presentation that are not historical facts are forward-looking statements
More informationOCEAN RIG ANNOUNCES ENGAGEMENT OF FEARNLEY S AND CLARKSONS AND EXTENSION OF EARLY CONSENT DEADLINE
OCEAN RIG ANNOUNCES ENGAGEMENT OF FEARNLEY S AND CLARKSONS AND EXTENSION OF EARLY CONSENT DEADLINE April 11, 2017 Grand Cayman, Cayman Islands Ocean Rig UDW Inc. (NASDAQ: ORIG) (the Company or Ocean Rig
More informationINDIVIDUAL VOLUNTARY ARRANGEMENTS
Freephone 0800 083 8018 INDIVIDUAL VOLUNTARY ARRANGEMENTS What is an individual voluntary arrangement (IVA)? Can I have a joint IVA? If you and your domestic partner meet the IVA criteria by taking into
More informationChapter 11 for Individuals and Small Businesses. A Primer on Small Chapter 11 Cases
Chapter 11 for Individuals and Small Businesses A Primer on Small Chapter 11 Cases Chapter 13 v. Chapter 11 Debt limitations and eligibility under 11 U.S.C. 109(e) Individuals and Companies Semi-superdischarge
More informationSEARS HOLDINGS INITIATES PROCESSES TO ACCELERATE STRATEGIC TRANSFORMATION AND FACILITATE FINANCIAL RESTRUCTURING
NEWS MEDIA CONTACT: Sears Holdings Public Relations (847) 286-8371 FOR IMMEDIATE RELEASE: October 15, 2018 SEARS HOLDINGS INITIATES PROCESSES TO ACCELERATE STRATEGIC TRANSFORMATION AND FACILITATE FINANCIAL
More informationReclamation Rights in Bankruptcy What Every Credit Manager Needs to Know By: Schuyler G. Carroll, Esq. & George Angelich, Esq.
Reclamation Rights in Bankruptcy What Every Credit Manager Needs to Know By: Schuyler G. Carroll, Esq. & George Angelich, Esq. Abstract Vendors of goods regularly extend business credit to customers. However,
More informationThe Mortgage Guide. Helping you find the right mortgage for you. Brought to you by. V a
The Mortgage Guide Helping you find the right mortgage for you Brought to you by V0050713a Hello. We re the Which? Mortgage Advisers team. Buying a house is the biggest financial commitment most of us
More informationTHIRD QUARTER RESULTS 2015
AKASTOR ASA THIRD QUARTER RESULTS 2015 3Q Highlights EBITDA of NOK -169 million - EBITDA of NOK 177 million when adjusted for special items - Special items of NOK 346 million charged to EBITDA; mainly
More informationDiamond Offshore Announces Second Quarter 2018 Results
Contact: Samir Ali Vice President, Investor Relations & Corporate Development (281) 647-4035 Diamond Offshore Announces Second Quarter 2018 Results Net loss of $(69) million, or $(0.50) per diluted share
More informationPresentation to bondholders. Restructuring proposal
Presentation to bondholders Restructuring proposal Disclaimer This presentation (the Presentation ) has been produced by Frode Bjørn AS (the Company or Frode Bjørn, and together with its subsidiaries,
More informationIN THE UNITED STATES BANKRUPTCY COURT FOR THE SOUTHERN DISTRICT OF ALABAMA SOUTHERN DIVISION
IN THE UNITED STATES BANKRUPTCY COURT FOR THE SOUTHERN DISTRICT OF ALABAMA SOUTHERN DIVISION In re: BENDER SHIPBUILDING & REPAIR CO., INC. Debtor. Chapter 11 Case No. 09-12616 THE OFFICIAL COMMITTEE OF
More informationFinancing Terms. Guide to using Term Sheets Social Investment Toolkit Module 7. Version 1.0
Financing Terms Guide to using Term Sheets Social Investment Toolkit Module 7 Version 1.0 Content Overview 3 What is a Term Sheet? 4 How do you prepare a Term Sheet? 5 What is the format of a Term Sheet?
More informationChemico: Restructuring Case Study. Jadek & Pensa / Allen & Overy LLP
Chemico: Restructuring Case Study Jadek & Pensa / Allen & Overy LLP Our task 1. Review a given set of facts, based on elements seen in some recent restructurings 2. Explore the issues affecting different
More information6. Could the Company be sold during this process? Could certain assets be sold?
All Employee FAQ All Employees 1. What is the CCAA? The CCAA, or the Companies Creditors Arrangement Act, is a federal law in Canada that provides insolvent companies with debts in excess of $5 million
More informationClearing Member Disclosure Document Relating to Clearing of Securities Transactions 1
Markets and Securities Services I Direct Custody & Clearing Dated: 13 December 2017 Citibank Europe Plc Clearing Member Disclosure Document Relating to Clearing of Securities Transactions 1 1 The Guidance
More informationA Tip of the Hat Supreme Court s Indalex Decision Puts Spotlight on Pension Plan Governance
A Tip of the Hat Supreme Court s Indalex Decision Puts Spotlight on Pension Plan Governance The tables have turned again as the Supreme Court of Canada opted to allow the company s appeal in the highly
More informationLEGACY BANK BUSINESS CREDIT APPLICATION
LEGACY BANK BUSINESS CREDIT APPLICATION I certify that this application is for: individual credit - without a co-borrower or guaranty of another person or entity* joint credit - with a person or entity
More informationBorr Drilling Limited and subsidiaries
Consolidated Financial Statements For the period from January 1, 2017 to March (Comparatives August 8, 2016 (date of inception) to December 31, 2016) For the period from January 1, 2017 to March and August
More informationFor personal use only
2016 Full Year Results Presentation MATRIX COMPOSITES & ENGINEERING Aaron Begley Chief Executive Officer Peter Tazewell Chief Financial Officer 24 August 2016 Agenda Overview Financial results Strategy
More informationRequest for Proposal for IRC 457 (b) Deferred Compensation Plan Services
Request for Proposal for IRC 457 (b) Deferred Compensation Plan Services October 2017 Table of Contents Section Page I. Introduction 3 II. Background 3 III. Criteria 3 IV. Scope of Services 4 V. Selection
More informationProvisions, Contingent Liabilities and Contingent Assets
IAS 37 Provisions, Contingent Liabilities and Contingent Assets LIABILITIES, PROVISIONS & CONTINGENCIES A liability is a present obligation of the entity arising from past events, the settlement of which
More informationSALE AND INVESTOR SOLICITATION PROCEDURES
SALE AND INVESTOR SOLICITATION PROCEDURES Bloom Lake General Partner Limited, Quinto Mining Corporation, 8568391 Canada Limited, Cliffs Québec Iron Mining ULC (formerly, Cliffs Québec Iron Mining Limited),
More informationCase Doc 18 Filed 06/06/16 Page 1 of 64
Case 16-11385 Doc 18 Filed 06/06/16 Page 1 of 64 IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE ) In re: ) Chapter 11 ) HERCULES OFFSHORE, INC., et al., 1 ) Case No. 16- ( ) ) Debtors.
More informationCase KG Doc 2 Filed 09/11/18 Page 1 of 14 IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE
Case 18-12057-KG Doc 2 Filed 09/11/18 Page 1 of 14 IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE -------------------------------------------------------x In re: : Chapter 15 : Kraus
More informationscc Doc 827 Filed 09/24/18 Entered 09/24/18 13:00:01 Main Document Pg 1 of 6
Pg 1 of 6 UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF NEW YORK ---------------------------------------------------------x In re Chapter 11 TOISA LIMITED, et al., Case No. 17-10184 (SCC) Debtors.
More informationPACIFIC DRILLING S.A.
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the quarter
More informationUNDERSTANDING AND PREPARING FOR BANKRUPTCY. Lewis & Jurnovoy P.A.
UNDERSTANDING AND PREPARING FOR BANKRUPTCY Lewis & Jurnovoy P.A. WARNING SIGNS If you are in financial trouble, you are not alone. At Lewis & Jurnovoy, P.A. we ve helped thousands of people just like you
More informationREMINDER TO SCHEME CREDITORS IN RELATION TO THE SCHEME MEETINGS TO BE HELD ON 11 AUGUST 2017
REMINDER TO SCHEME CREDITORS IN RELATION TO THE SCHEME MEETINGS TO BE HELD ON 11 AUGUST 2017 31 July, 2017, Grand Cayman, Cayman Islands Ocean Rig UDW Inc. (NASDAQ: ORIG) ("Ocean Rig" or "UDW" or the "Company")
More informationIN THE UNITED STATES BANKRUPTCY COURT FOR THE NORTHERN DISTRICT OF TEXAS DALLAS DIVISION ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) Chapter 11
JEFFREY C. KRAUSE (Cal. State Bar #94053 Email: jkrause@stutman.com EVE H. KARASIK (Cal. State Bar #155356 Email: ekarasik@stutman.com GREGORY K. JONES (Cal. State Bar #153729 Email: gjones@stutman.com
More information