Looks like SOI was served notice that a $16 million loan is due May 8th and SOI agreed to sell two vessels (Gulf Diver IV and V) and a crane. 100% the proceeds from the sale are slated for repayment of of the loan.
The GDIV is scrap and was never anything more than a money pit. We all know about the GDV's Status, and even if they sell all of the items, it will not cover the 16 million due. Maybe someone should ask JM to donate some money back to the company. Lord knows he milked enough of it.
I am no expert but it looks like the creditors or those with whom DEEP has credit arrangements are taking an active role in control of the company assets. Much better than any court proceedings, as a stockholder I hope they stay afloat long enough to contract some projects. Maybe down to Brazil to help with the test drilling of the new gas & oilfields? PBR & others down there are flush with money.