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Published on 12/17/2014 in the Prospect News Distressed Debt Daily.

OSA Goliath parent’s vessel seizure petition rejected by Mexican court

By Caroline Salls

Pittsburgh, Dec. 17 – OSA Goliath Pte. Ltd. parent Oceanografia SA de CV’s petition for seizure of the OSA Goliath vessel was rejected by a Mexican bankruptcy court, according to a news release from OSA Goliath bond trustee Nordic Trustee ASA.

The petition was rejected because the vessel is owned by OSA Goliath, not by Oceanografia.

According to the release, Oceanografia filed the petition for seizure to preserve its rights over assets and to maintain the viability of the company.

Nordic Trustee said it agreed with the court’s ruling, which is subject to appeal.

The vessel will continue to be marketed, the trustee said.

OSA Goliath is a subsidiary of offshore oil engineering services company Oceanografia SA de CV.


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