Trico eyes exclusivity extension to focus on global restructuring

By Caroline Salls

Pittsburgh, Dec. 22 - Trico Marine Services, Inc. is requesting an extension to its exclusive periods for filing a plan of reorganization and soliciting votes on the plan, according to a Tuesday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company wants to extend its exclusive filing period to Jan. 22 and the solicitation period to March 23.

"Now that the debtors are able to continue to operate their estates with the agreed use of cash collateral and proceeds from significant vessel sales, the debtors and their professionals have turned their efforts toward a global restructuring process for the Trico Marine Group," Trico said in the motion.

The company also cited the size and complexity of its bankruptcy case.

A hearing is scheduled for Jan. 10.

Trico, a marine services company based in the Woodlands, Texas, filed for bankruptcy on Aug. 25. The Chapter 11 case number is 10-12653.

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