Hermitage Offshore seeks further extension of exclusive plan periods

By Sarah Lizee

Olympia, Wash., March 8 – Hermitage Offshore Services Ltd. is seeking a second extension of its exclusive periods to file and solicit votes on a Chapter 11 plan, according to a motion filed Monday with the U.S. Bankruptcy Court for the Southern District of New York.

Specifically, the company is asking the court to extend the plan filing period through May 8 from March 9 and the solicitation period through July 7 from May 8.

The debtors seek the additional extension to ensure they have sufficient time to continue negotiating, and ultimately obtain confirmation of, a Chapter 11 plan, the motion said.

“The requested extension of the exclusivity periods will allow the plan negotiation process to proceed, afford the debtors time to obtain confirmation of the plan, not prejudice any parties in interest, and promote the debtors’ goal of maximizing value for their stakeholders,” the company said.

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, 2020 under Chapter 11 case number 20-11850.

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