Signal International, Inc

Situation Signal International, Inc. and affiliated entities (Signal) is engaged in the business of offshore drilling rig overhaul, repair, upgrade, and conversion, as well as new shipbuilding construction.  Its operations are in Mobile, Alabama and Pascagoula, Mississippi.   Signal had liquidity constraints due in large part to a decline in oil and gas prices, resulting in a slowdown of drilling operations in the Gulf region.  In addition, Signal had incurred significant legal fees and expenses defending several pending litigations in New York, Texas and Louisiana. Signal filed for protection under Chapter 11 of the bankruptcy code in July 2015 in the hopes of being able to sell substantially all of the [...]