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Hercules Offshore Mediator Appointed

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The U.S. Bankruptcy Court issued an order appointing a mediator to govern mediation procedures and assist in resolving certain objections related to confirmation of Hercules Offshore’s Joint Prepackaged Chapter 11 Plan of Reorganization.

The order states, “The Court having determined that referral to mediation and the appointment of a mediator is in the best interests of the Debtors, their estates, creditors and stakeholders….It is hereby ordered that as follows: Effective immediately upon entry of this Order, this matter is referred to Mediation and the Honorable Christopher S. Sontchi, United States Bankruptcy Judge for the District of Delaware is appointed as Mediator in these chapter 11 cases to conduct non-binding mediation concerning the Plan related issues.”

The order continues, “Unless otherwise directed by the Mediator, each of (i) the Debtors; (ii) the Equity Committee and (iii) the Ad Hoc Group must appear with at least one (1) principal or other individual with authority to make a decision binding upon such party subject to final approval by the HERO board of directors, the full Equity Committee and the Requisite Consenting Lenders, respectively….At the conclusion of the Mediation, the Mediator shall file with the Court a memorandum stating (x) that the Mediator has conducted the Mediation, (y) the names, addresses and telephone numbers of counsel and advisors who participated in the Mediation, and (z) whether and to what extent the Mediation was successful.”

Read more Hercules Offshore bankruptcy news.

The post Hercules Offshore Mediator Appointed appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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