Cal Dive International Bankruptcy Liquidation Approved – Bankrupt Company News (press release) (blog)
Advertisement The U.S. Bankruptcy Court approved Cal Dive International motion to convert its Chapter 11 reorganization proceeding to a liquidation under Chapter 7. As previously reported, the Company had argued, As oil prices dropped, so did the appetite for oil and gas companies to drill offshore. This precipitous decline in the industry, in turn, caused…