GulfMark Offshore Inc. NEW (fka GLFMQ) (GLF)

[hondaboost]

Yep: GLFM: the Company filed an 8K that the bondholders and the bank creditors agreed to waive the default for 2 weeks (through April 28) to complete negotiations on a restructuring - so I would calendar April 28 for more news. Moodys values the collateral in a liquidation "fire sale" to be worth only 50% of the total debt and 35% of the senior bonds; S&P latest that I have seen (November 2016) estimates more like 70-85% recovery for bondholders. Either way, looks like there will only be crumbs left at best for the common shareholders.

"restructuring" is Chapter 11 or Bankruptcy!

Worsely, Moody's estimate : Liquidation ! or Chapter 7!