May 24, 2016 2:47 PM ET

Machinery

Company Overview of Signal International, LLC

Company Overview

Signal International, LLC constructs ocean deck barges. It also constructs, upgrades, and repairs offshore drilling rigs, floating production units, and derrick barges. The company was founded in 2002 and is based in Mobile, Alabama. Signal International, LLC operates as a subsidiary of Signal International Inc.

11 North Water Street

RSA Battle House Tower

Suite 16250

Mobile, AL 36602

United States

Founded in 2002

Phone:

251-544-2628

Fax:

251-544-2640

Key Executives for Signal International, LLC

Signal International, LLC does not have any Key Executives recorded.

Signal International, LLC Key Developments

First Amended Joint Liquidation Plan Approved for Signal International Inc

The US Bankruptcy Court approved the first amended joint plan of liquidation of Signal International Inc. on November 24, 2015. The debtor had filed its amended plan in the Court on October 6, 2015. As per the amended plan, administrative claims, first lien loan agreement claims of $70.09 million, priority tax claims, professional fee claims and DIP facility claims of $90.09 million will be paid in full in cash. Litigation claims of $200 million shall have a recovery of 15%. Intercompany claims will be cancelled and will receive no distribution. General unsecured claims of $6 million will be paid $0.9 million, a recovery of 15%. Equity interests will be cancelled and will not receive any distribution. The plan will be funded by sale of assets and cash in hand.

Motion for Asset Sale Approved for Signal International Inc

The US Bankruptcy Court gave an order approving the sale of substantially all the assets of Signal International Inc. on November 24, 2015. The debtor has been authorized to sell substantially all its assets to Teachers’ Retirement System of Alabama and the Employees’ Retirement System of Alabama, the stalking horse bidder for a credit bid of $90.62 million in cash.

Notice for Auction Cancellation Filed by Signal International Inc

Signal International, Inc. filed a notice for cancellation of auction for the sale of substantially all the assets of Signal International Inc on October 13, 2015. The debtor did not receive any qualified bid for the sale of assets prior to the bid deadline and hence the auction scheduled for October 14, 2015 has been cancelled. The sale hearing is scheduled for November 24, 2015.

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