Signal International Files for Bankruptcy
Facing a wave of lawsuits filed by workers recruited from India to work on the U.S. Gulf Coast, marine services company Signal International has filed for Chapter 11 bankruptcy protection to help save its business and resolve litigation, the Wall Street Journal reported.
Accused of labor trafficking, marine services company Signal lost the first of many lawsuits filed against it by more than 225 Indian workers who say they were promised good jobs repairing rigs damaged by Hurricane Katrina. As many as 500 workers came from India to work for the company.
Signal, who has shipyards in Alabama and Mississippi, filed the declaration in U.S. Bankruptcy Court for the District of Delaware.