| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers O > Headlines for Offshore Group Investment Ltd. > News item |
Offshore Group interested party requests hearing, deadline extensions
By Mark Reccek
Bethlehem, Pa., Jan. 6 – Offshore Group Investment Ltd.'s (OGIL) interested party Hsin Chi Su requested approval to extend the voting deadlines, continue the hearing on the wage and cash collateral motions, continue the hearing on the disclosure statement and plan and extend the deadlines to object to the motions, disclosure statement and plan, according to a motion filed Monday with the U.S. Bankruptcy Court for the District of Delaware.
Su argues sufficient cause exists to extend the deadlines and continue the hearing dates set for Jan. 7 and Jan. 14 until after Jan. 18 in order to provide adequate time for the liquidator to be appointed in the Vantage Drilling Co. winding up action filed in the Cayman Islands.
Su also asserts the hearings and deadlines should be continued and extended because Vantage Drilling “lacks an independent voice to represent its interests in this proceeding by design of those working with the debtors.”
Moreover, Su said the extensions and continuances are warranted since liquidators have not been appointed in the Cayman proceeding.
“This is similar to a situation where a case is being converted and actions are continued until a Chapter 7 trustee is appointed and has sufficient time to investigate the issues involved in the matter,” the motion said.
The liquidators, Su contends, must be appointed to conduct investigations in order to preserve the interests of Vantage Drilling.
The motion added, “the debtors already submitted to a process which was intended to allow for the appointment of an independent liquidator but now the debtors are attempting to delay the appointment of an independent party.”
OGIL is a subsidiary of Vantage Drilling Co., an offshore drilling contractor based in Houston. OGIL filed for bankruptcy on Dec. 3 under Chapter 11 case number 15-12422.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.