New York, October 21, 2020— Proskauer, a leading international law firm, announced today that it is representing Hermitage Offshore in their Chapter 11 cases including the auction sale of its crew boat fleet to VGT Ships Ltd, a subsidiary of Tidewater Inc., and its platform supply vessels to its existing secured lenders, for an aggregate purchase price in excess of $105 million.

Hermitage Offshore Services Ltd. is an offshore support vessel company that owns 21 vessels consisting of 10 platform supply vessels, or PSVs, and 11 crew boats. The Company’s vessels primarily operate in the North Sea and the West Coast of Africa.

Proskauer’s team was led by partners Brian Rosen (Bankruptcy) and James Gerkis (Mergers & Acquisitions) with assistance from senior counsel Kristian Herrmann (Mergers & Acquisitions) and associates Joshua Esses (Bankruptcy), and Megan Volin (Bankruptcy).

Proskauer’s Business Solutions, Governance, Restructuring & Bankruptcy practice is broad and we counsel clients on all matters related to distressed situations, corporate governance, insolvency and bankruptcy. We are proud to have some of the finest and most creative restructuring and governance lawyers in the world who have played pivotal roles in a number of the most complex and high-profile distressed matters. We have represented every constituent (debtor, lender, unsecured creditor, board of directors, shareholder, new investor) involved with a business in distress and understand the goals, strategies and tactics of each of the parties.