Nautical Solutions, L.L.C. — Representation of Nautical Solutions, L.L.C. and its affiliate (together, “Nautical”) in their prepackaged Chapter 11 cases in the United States Bankruptcy Court for the Southern District of Texas. Headquartered in Cut Off, Louisiana, Nautical operates a fleet of 29 offshore service vessels and is a leading provider of vessel support services in the Gulf of Mexico and in Guyana and Brazil. Nautical filed for Chapter 11 with a restructuring support agreement (“RSA”) that is widely supported by Nautical’s term lenders, noteholders, and equityholders. The RSA contemplates a refinancing of approximately $700 million of prepetition funded indebtedness, a significant enhancement of the underlying collateral package, and the sale of certain of Nautical’s vessels.
