Montco Offshore exclusive plan-filing period extended through Nov. 13

By Caroline Salls

Pittsburgh, Nov. 6 – Montco Offshore, Inc.’s exclusive period for filing a Chapter 11 plan was extended through Nov. 13 from Oct. 13, according to an order filed Monday with the U.S. Bankruptcy Court for the Southern District of Texas.

As previously reported, the debtors filed Chapter 11 plans of reorganization and liquidation for Montco Offshore and Montco Oilfield Contractors, LLC on Sept. 26. The disclosure statement related to the plans was conditionally approved on Oct. 6, and the plan confirmation hearing is scheduled for Nov. 13.

“While the debtors have already filed the plan, the debtors believe that sufficient cause exists to further extend the filing exclusivity period to ensure that no estate resources need to be shifted toward the review of (and potential objections to) a competing plan while the debtors seek to confirm their own,” the motion said.

Houston-based Montco operates lift boats for the offshore energy industry. The company filed for bankruptcy on March 17, 2017 under Chapter 11 case number 17-31646.

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