Seacor Marine Holdings said a Texas bankruptcy court approved its reorganisation plan for Montco Offshore, which includes a new liftboat joint venture.
The United States Bankruptcy Court for the Southern District of Texas approved Seacor's "stalking horse" bid for the Houston-based Montco.
Under the bid, Seacor Marine and Montco will jointly form and capitalise a new joint venture for liftboat vessels and other related assets.
