Hermitage Offshore Services Ltd., along with its affiliates, filed a joint plan of reorganization with related disclosure statement in the US Bankruptcy Court on May 7, 2021. As per the plan filed, administrative expense claims, professional compensation and reimbursement claims, postpetition secured parties superpriority claims and other priority claims shall receive payment in full in cash. Prepetition secured term facility claims of $132.91 million shall receive its pro rata share of the debtors’ assets, net of the wind-down fund and the remaining recovery. General unsecured claims receive its pro rata Share of the GUC recovery fund. Intercompany claims, section 510(b) claims, interests in hermitage and intercompany interests shall be deemed cancelled, released, and extinguished and will be of no further force or effect and will not receive any distribution on account of such allowed intercompany claims. The reorganized debtors will fund their distributions and obligations under the plan with cash on hand, the cash, if any, received by the debtors on account of the post-effective date receipts, and such other cash proceeds resulting from the monetization of the assets. Hermitage Offshore Services Ltd., along with its affiliates, filed a modified joint plan of reorganization in the US Bankruptcy Court on June 17, 2021. As per the plan filed, there is no change in treatment of any claim class.