Crosby Enterprises, LLC Announces Voluntary Chapter 11 Filings to Facilitate Financial Restructuring for Three Subsidiaries
Crosby Enterprises, LLC (the “Company”) announced that the Company filed chapter 11 cases for several of its subsidiary/affiliate units, Crosby Tugs, L.L.C., Crosby Dredging, L.L.C. and Crosby Marine Transportation, L.L.C., in the U.S. Bankruptcy Court for the Eastern District of Louisiana on March 23, 2026. The focus of the filings is to restructure the Company’s secured debt to improve the Company’s financial position, all while maintaining the Company’s position as a regional…
Update on Insolvency of FSG-Nobiskrug Shipyard
Salaries of the 500 employees are secured by insolvency money; discussions planned with clients for shipbuilding projects already underway. The Provisional insolvency administrators want to jointly develop restructuring solutions.The Flensburg and Neumünster district courts have initiated insolvency proceedings for four companies in the Schleswig-Holstein shipyard group FSG-Nobiskrug. The companies affected are FSG-Nobiskrug Holding GmbH, Flensburger Schiffbau-Gesellschaft mbH…
Buyers Reportedly Line-up for a Crack at Seadrill
Noble Corp and a consortium that includes Transocean Ltd and Dolphin Drilling are competing to acquire the assets of Seadrill Ltd, the bankrupt offshore oil driller controlled by Norwegian-born tycoon John Fredriksen, people familiar with the matter said on Tuesday.Seadrill is trying to emerge from its second U.S. Chapter 11 bankruptcy in four years: like many in the industry, it expanded its drilling rigs too aggressively in the mid-2010s to withstand a subsequent plunge in energy prices and rig hire rates.
