EX-99.1 2 d407522dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

UNITED STATES BANKRUPTCY COURT

FOR THE DISTRICT OF DELAWARE

 

In re:

 

TIDEWATER INC., et al.,

 

Debtors.

   

:

:

:

:

:

:

   

Chapter 11

 

Case No. 17-11132 (BLS)

 

Jointly Administered

INITIAL MONTHLY OPERATING REPORT

File report and attachments with Court and submit copy to United States Trustee within 15 days after order for relief.

Certificates of insurance must name United States Trustee as a party to be notified in the event of policy cancellation. Bank accounts and checks must bear the name of the debtor, the case number, and the designation “Debtor in Possession.” Examples of acceptable evidence of Debtor in Possession Bank accounts include voided checks, copy of bank deposit agreement/certificate of authority, signature card, and/or corporate checking resolution.

 

REQUIRED DOCUMENTS

    Document
Attached		      Explanation
Attached		  

12-Month Cash Flow Projection (Form IR-1)

      Exhibit A        Exhibit A  

Certificates of Insurance:

      Exhibit B        N/A  

Workers Compensation

      

Property

      

General Liability

      

Vehicle

      

Other:

      

Identify areas of self-insurance with liability caps

      

Evidence of Debtor in Possession Bank Accounts

      Exhibit C        Exhibit C  

Tax Escrow Account

      

General Operating Account

      

Money Market Account Pursuant to Local Rule 4001-3 for

      

the District of Delaware only. Refer to:

      

http://www.deb.uscourts.gov

      

Other:

      

Retainers Paid (Form IR-2)

      Exhibit D        N/A  

I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and the documents attached are true and correct to the best of my knowledge and belief.

 

 

Signature of Debtor

     

 

Date

 

     

 

Signature of Joint Debtor      Date

/s/ Quinn P. Fanning

Signature of Authorized Individual*

     

6/7/2017

Date

Quinn P. Fanning

Printed Name of Authorized Individual

     

Chief Financial Officer

Title of Authorized Individual

 

* Authorized individual must be an officer, director or shareholder if debtor is a corporation; a partner if debtor is a partnership; a manager or member if debtor is a limited liability company.

In re Tidewater Inc. et al.

            Debtors.

   Case No. 17-11132 (BLS)

Exhibit A

12-Month Cash Flow Projection

The Debtors prepared the attached 12-month cash flow projection in accordance with Form IR-1.

Tidewater Inc.

12-Month Cash Flow Projection

 

$ in Millions

                                                                                    
Period   0     1     2     3     4     5     6     7     8     9     10     11     12     LTM  

Month Ended:

   6/30/17     7/31/17     8/31/17     9/30/17     10/31/17     11/30/17     12/31/17     1/31/18     2/28/18     3/31/18     4/30/18     5/31/18     6/30/18     6/30/18  
Receipts                            

Total Receipts

     38.4       36.1       47.5       36.2       33.9       44.0       37.6       40.3       39.4       35.4       37.4       46.1       37.7       471.5  

Disbursements - Operating

                            

Operating Disbursements - Vessel Operations

     (25.1 )      (31.0 )      (32.6 )      (27.0 )      (23.7 )      (28.9 )      (27.8 )      (29.4 )      (27.7 )      (25.8 )      (22.8 )      (36.7 )      (24.5 )      (337.9 ) 

Operating Disbursements - Other Operations

     (0.8 )      (0.9 )      (0.9 )      (0.9 )      (0.9 )      (0.9 )      (0.9 )      (0.9 )      (0.9 )      (0.9 )      (0.9 )      (0.9 )      (0.9 )      (10.7 ) 

Vessel Lease Payments

     (0.5 )      (0.5 )      (0.7 )      (0.4 )      —         —         —         —         —         —         —         —         —         (1.7 ) 

Other Disbursements - G&A

     (16.1 )      (7.7 )      (12.8 )      (8.8 )      (10.5 )      (12.8 )      (3.7 )      (13.8 )      (9.5 )      (8.6 )      (6.3 )      (4.0 )      (16.3 )      (114.9 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Subtotal: Operating Disbursements

     (42.5 )      (40.1 )      (47.0 )      (37.0 )      (35.1 )      (42.6 )      (32.4 )      (44.1 )      (38.2 )      (35.3 )      (30.0 )      (41.5 )      (41.7 )      (465.1 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Operating Cash Flow

     (4.1 )      (4.0 )      0.4       (0.9 )      (1.2 )      1.4       5.1       (3.8 )      1.2       0.1       7.4       4.6       (4.0 )      6.4  

Non-Operating Cash Flows

                            

Capital Expenditures

     —         —         —         (5.2 )      (1.2 )      (1.2 )      (1.2 )      (5.5 )      (1.2 )      (1.2 )      (1.2 )      (1.2 )      (1.2 )      (20.0 ) 

Proceeds from the Sale of Vessels

     1.3       —         8.5       —         —         4.0       —         —         6.7       —         —         7.9       —         27.1  

Other Refunds or Proceeds

     6.4       —         —         —         —         —         —         —         —         —         —         —         —         —    

Dividend from Non-Consolidated JV

     —         —         —         —         —         4.9       —         —         —         —         —         —         —         4.9  

Debt Service - Interest

     —         —         (1.0 )      (4.6 )      —         (0.9 )      (6.8 )      (1.0 )      —         (6.7 )      —         —         (6.6 )      (27.7 ) 

Debt Service - Principal Amortization

     —         —         (6.9 )      —         —         (3.7 )      —         (1.4 )      (4.4 )      —         —         (5.1 )      —         (21.5 ) 

Debt Service - Other Paydown of Debt

     —         (225.0 )      —         —         —         —         —         —         —         —         —         —         —         (225.0 ) 

Cash Taxes

     (2.2 )      (2.1 )      (2.1 )      (2.1 )      (2.2 )      (2.2 )      (2.2 )      (2.1 )      (2.1 )      (2.1 )      (2.1 )      (2.1 )      (2.1 )      (25.6 ) 

Professional Fees

     —         (5.0 )      (7.7 )      (0.5 )      —         —         —         —         —         —         —         —         —         (13.2 ) 

U.S. Trustee Fee

     —         (0.0 )      —         —         (0.0 )      —         —         —         —         —         —         —         —         (0.1 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Subtotal: Non-Operating Cash Flows

     5.6       (232.2 )      (9.2 )      (12.4 )      (3.4 )      0.9       (10.2 )      (9.9 )      (0.9 )      (10.0 )      (3.3 )      (0.5 )      (9.9 )      (301.0 ) 
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Cash Flow, before Financing Activities

     1.5       (236.2 )      (8.8 )      (13.3 )      (4.6 )      2.3       (5.0 )      (13.6 )      0.2       (9.9 )      4.1       4.1       (13.9 )      (294.7 ) 

Withdraw / (Reinvest) in Cash Equivalents

     (1.5 )      236.2       8.8       13.3       4.6       (2.3 )      5.0       13.6       (0.2 )      9.9       (4.1 )      (4.1 )      13.9       294.7  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Net Cash Flow, after Financing Activities

     0.0       —         —         —         —         (0.0 )      0.0       —         0.0       —         —         (0.0 )      —         —    
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Beginning Cash Balance

     38.0       38.0       38.0       38.0       38.0       38.0       38.0       38.0       38.0       38.0       38.0       38.0       38.0       38.0  

Net Cash Flow

     0.0       —         —         —         —         (0.0 )      0.0       —         0.0       —         —         (0.0 )      —         —    
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Ending Cash Balance

     38.0       38.0       38.0       38.0       38.0       38.0       38.0       38.0       38.0       38.0       38.0       38.0       38.0       38.0  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Add: Cash Equivalents

     627.9       391.7       382.9       369.6       365.0       367.2       362.2       348.6       348.8       338.9       343.1       347.1       333.2       333.2  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Ending Cash Bal.

     665.9       429.7       420.9       407.6       403.0       405.2       400.2       386.6       386.8       376.9       381.1       385.1       371.2       371.2  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

In re Tidewater Inc. et al.

            Debtors.

   Case No. 17-11132 (BLS)

Exhibit B

Certificates of Insurance

   Case # 17-11132
Tidewater Inc.   
Insurance Policies List   
For Exhibit to Insurance Motion, and Exhibit to Initial Debtor Operating Report   

 

Insurance Programs for April 1, 2017 through March 31, 2018

Type of Coverage

   Insurer   Policy Number(s)   Policy Term   Premium     Certificate Issued   Certificate Number
  Workers’ Compensation Program      
Domestic Workmen’s’ Comp and EL   Zurich American Ins. Co.   WC2946296-19   4-1-2017 to 3-31-2018   $ 83,093.00     Yes   RAM5UMHS
  Marine Insurance      
Hull and Marine Liability   Pental Insurance Company
Ltd.		   M-5700   4-1-2017 to 3-31-2018     N/A     Yes   CI-20170526-02805
Marine Reinsurance Hull and IV   International Markets
including Lloyds		   MS-S 5134R   4-1-2017 to 3-31-2018   $ 2,933,269.80     Yes   HTYNQNED
Marine Reinsurance Liability   International Markets
including Lloyds		   MS-S 5134R   4-1-2017 to 3-31-2018   $ 1,136,488.48     Yes   HTYNQNED
Marine Reinsurance War A   International Markets
including Lloyds		   MS-S 5134R   4-1-2017 to 3-31-2018   $ 260,704.00     Yes   HTYNQNED
Marine Reinsurance War Nigeria   International Markets
including Lloyds		   MS-S 5134R   4-1-2017 to 3-31-2018   $ 114,557.00     Yes   HTYNQNED
Marine Reinsurance Swing Premium   International Markets
including Lloyds		   MS-S 5134R   4-1-2017 to 3-31-2018   $ 100,000.00     Yes   HTYNQNED
Total Loss Only   International Markets
including Lloyds		   MS-S 5135, MS-S5136   4-1-2017 to 3-31-2018   $ 439,689.00     Yes   DPK2CS2X
ROV Equipment   International Markets
Including Lloyds		   MS-S 5449   4-1-2017 to 3-31-2018   $ 170,251.00     Yes   LY4QK4WH
Sona Tide Hull and War for JV Vessels   International Markets
Including Lloyds		   MS-S 5528   4-1-2017 to 3-31-2018   $ 145,046.00     Yes   A8J4W2RG
Sona Tide Marine Liability For JV Vessels   International Markets
Including Lloyds		   MS-S 5529   4-1-2017 to 3-31-2018   $ 221,102.00     Yes   A8J4W2RG
Pollution Liability Coverage For Lui Tide   Water Quality Insurance

Syndicate (WQIS)

   51-50975   4-1-207 to 3-31-2018   $ 1,487.50     Yes   A8J4W2RG
P&I Coverage For Troms Fleet   Gard P&I (Bermuda) Ltd.   MS-S 5437 Premium
Includes est. Deferred
Call		   2-20-2017 to 2-20-2018   $ 192,828.80     Yes   CKQL9X4Z
Marine Front For Mexican Fleet Hull Gross   Seguros Imbursa, S.A.   26300-30091070   4-1-2017 to 3-31-2018   $ 187,684.21     Yes   Attached
Marine Front For Mexican Fleet Hull Net   Seguros Imbursa, S.A.   26300-30091070   4-1-2017 to 3-31-2018   $ 39,529.01     Yes   Attached
Marine Front For Mexican Fleet Liability Gross   Seguros Imbursa, S.A.   26300-30091061   4-1-2017 to 3-31-2018   $ 121,422.43     Yes   Attached
Marine Front For Mexican Fleet Liability Net   Seguros Imbursa, S.A.   26300-30091061   4-1-2017 to 3-31-2018   $ 25,575.91     Yes   Attached
Marine Front for Egyptian Fleet: Hull, IV, Liability Net   Misr Insurance Company   3179/2017   4-1-2017 to 3-31-2018   $ 13,978.90     Yes   Attached
Marine Front for Egyptian Fleet - Fees for Hull, IV,   Misr Insurance Company   3179/2017   4-1-2017 to 3-31-2018   $ 50,000.00     Yes   Attached
  Innocent Owners’ Program      
Innocent Owners’ Coverage   International Markets
Including Lloyds		   MS-S 5423 (BOA), MS-S 5424

(BBVA), MS-S 5425 (Fifth
3rd), MS-S 5426
(Mass Mutual), MS- S
5427 (PNC Equip),
MS-S 5428 (Regions)

   4-1-2017 to 3-31-2018   $ 61,927.72     Yes   A2Z4L9T7 (Fifth 3rd),
8GWLFE26
(BBVA),
68PX9P8J (BOA),
LTC4V44V (Mass
Mutual),
L8V4Q44R (PNC),
6KXARJ5K
(Regions)
  Business Owner Program      
Commercial General Liability   Aspen (Millers)   MS-S 5482   4-1-2017 to 3-31-32018   $ 94,365.00     Yes   RAM5UMHS
Domestic Automobile Liability Coverage   Zurich American Ins. Co.   BAP2946295-18   4-1-2017 to 3-31-2018   $ 64,430.05     Yes   RAM5UMHS
Worldwide Property   ACE American   PGLN14312298   4-1-2017 to 3031-2018   $ 159,993.62     Yes   RAM5UMHS
Domestic Excess Property   International Markets
Including Lloyds		   MS-S 5483   4-1-2017 to 3-31-2018   $ 133,683.75     Yes   RAM5UMHS
Non-Owned Aviation   Starr Indemnity and
Liability		   1000231046-01   4-1-2017 to 3-31-2018   $ 8,500.00     Yes   RAM5UMHS

 

Page 1 of 2

   Case # 17-11132
Tidewater Inc.   
Insurance Policies List   
For Exhibit to Insurance Motion, and Exhibit to Initial Debtor Operating Report   

 

Insurance Programs for April 1, 2017 through March 31, 2018

Type of Coverage

   Insurer   Policy Number(s)   Policy Term   Premium     Certificate Issued   Certificate Number
    Foreign Program        
Foreign Workers’ Comp and Employers’ Liability   Ins. Co. of State Of PA(AIG)   83-73383   4-1-2017 to 3-31-2018   $ 98,160.00     Yes   RAM5UMHS
Foreign Automobile Liability Coverage   Ins. Co. of State Of
PA(AIG)		   80-0275609   4-1-2017 to 3-31-2018   $ 4,600.00     Yes   RAM5UMHS
Foreign Property Coverage (Incl. Master, Angola, Egypt, Mexico, UAE)   ACE American Ins.
Co. (Starr Tech)		   GPRN143123   4-1-2017 to 3-31-2018   $ 19,715.82     No  
Foreign Property Coverage (Local Brazil)   Local: TBA( Starr
Tech)		   17-96-0004327-12-0000000   4-1-2017 to 3-31-2018   $ 4,600.00     No  
Foreign Property Coverage (Local Cameroon)   Local: Activa
Assurances (Starr
Tech)		   2001/330 844   4-1-2017 to 3-31-2018   $ 5,653.83     No  
Foreign Property Coverage (Local Nigeria)   Local: Leadway
Assurance (Starr Tech)		   MD14000016LA   4-1-2017 to 3-31-2018   $ 4,444.00     No  
Australia (Comp For WA)   Allianz   WWH0074579   3-31-3017 to 3-31-2018   $ 3,779.05     No  
Australia (Seamen’s Rehabilitation Cover)   Allianz   96 1109650 XWC   3-31-3017 to 3-31-2018   $ 2,750.00     No  
UK (GL/EL)   AIG Europe Limited   21606127   4-1-2017 to 3-31-2018   £ 4,125.00     No  
UK (Travel and Accident)   ACE European Group   T2017032809240345   4-1-2017 to 3-31-2018   £ 1,887.03     No  
UK (Auto)   RSA   83RTT27806   4-1-2017 to 3-31-2018   £ 686.56     No  
  Directors and Officers Program      
Directors and Officers Liability Coverage   Chubb and Various
other Domestic and
International Carriers		   Various   4-1-2017 to 3-31-2018   $ 1,045,006.50     Yes   HMYMMPQM
Mexico D&O   Chubb de Mexico
Compania de Seguros,
S.A. de C. V.		   977784-6   4-1-2017 to 3-31-2018   $ 5,892.80     Yes   Certificado for policy
DO977784-6
Brazil D&O   Chubb Do Brasil Cia
de Seguros		   TBD   4-1-2017 to 3-31-2018   $ 4,174.41     No  
  Other FSD Coverages      
Comprehensive Crime   Chubb   82099088.00   4-1-2017 to 3-31-2018   $ 59,550.00     Yes   9Z76ZYT4
Fiduciary Liability Primary $10.0 MM   Chubb   82099088.00   4-1-2017 to 3-31-2018   $ 30,740.00     Yes   T9X59TNG
Fiduciary Liability Primary $10.0 MM XS $10.0 MM   Travelers   105590187.00   4-1-2017 to 3-31-2018   $ 18,915.00     Yes   T9X59TNG
Fiduciary Liability Primary $10.0 MM XS $20.0 MM   HCC   14MGU17A4   4-1-2017 to 3-31-2018   $ 13,241.00     Yes   T9X59TNG
Fiduciary Liability Primary $10.0 MM XS $30.0 MM   Endurance   FLX1000391   4-1-2017 to 3-31-2018   $ 11,150.00     Yes   T9X59TNG
Fiduciary Liability Primary $10.0 MM XS $40.0 MM   AXIS   MHN761796   4-1-2017 to 3-31-2018   $ 11,000.00     Yes   T9X59TNG
Special Crime Coverage   Hiscox   Will not disclose   June 1, 2015 until June 1, 2018   $ 495,000.00     Yes   X3H6HWJ8
Fiduciary coverage, special crime, comprehensive crime   Chubb; Travelers;
HCC; Endurance;
AXIS; Hiscox		   82099088

105590187

14MGU17A4

FLX1000391

MHN761796

   4-1-2017 to 3-31-2018   $ 740,000.00     Yes   See Above
  Excess Liability Coverage      
$25.0 MM XS $25.0 MM   Various International
Markets Including
Lloyds		   MS-S 5413   1-1-2017 to 12-31-2017   $ 176,425.00     Yes   RAM5UMHS
$75.0 MM XS $50.0 MM   Various International
Markets Including
Lloyds		   MS-S 5414   1-1-2017 to 12-31-2017   $ 107,488.00     Yes   RAM5UMHS
$375.0 MM XS $125.00 MM   Various International
Markets Including
Lloyds		   MS-S 5415   1-1-2017 to 12-31-2017   $ 445,971.00     Yes   RAM5UMHS
$500.0 MM XS $500.0 MM   Various International
Markets Including
Lloyds		   MS-S 5416   1-1-2017 to 12-31-2017   $ 319,050.00     Yes   RAM5UMHS
Mexico XS $25.0 MM XS $25.0 MM Gross   Seguros Imbursa, S.A.   26300-30091061   1-1-2017 to 12-31-2017   $ 17,021.40     Yes   See lines 27 and 28
above
Mexico XS $25.0 MM XS $25.0 MM Net   Seguros Imbursa, S.A.   26300-30091061   1-1-2017 to 12-31-2017   $ 4,551.56     Yes   See lines 27 and 28
above
Mexico XS $50.0 MM XS $50.0 MM Gross   Seguros Imbursa, S.A.   26300-30091061   1-1-2017 to 12-31-2017   $ 6,923.49     Yes   See lines 27 and 28
above
Mexico XS $50.0 MM XS $50.0 MM Net   Seguros Imbursa, S.A.   26300-30091061   1-1-2017 to 12-31-2017   $ 1,858.23     Yes   See lines 27 and 28
above

 

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   Direct inquiries to the following address:
Strategic Risk Solutions (Bermuda) Ltd.    Pental Insurance Co. Ltd.
Managers for Pental Insurance Co. Ltd.    Pan-American Life Center
Continental Building, Third Floor    601 Poydras Street, Suite 1500
25 Church Street    New Orleans, Louisiana 70130-6061
P.O. Box HM 3103    Telephone: (504) 568-1010
Hamilton HM, NX, Bermuda   

C E R T I F I C A T E     O F     I N S U R A N C E

 

  
TO:    U.S. Department of Justice
   Office of the United States Trustee
   Linda J. Casey - Trial Attorney
   844 King Street, Suite 2207 Lockbox 35
   Wilmington, DE 19801
                        We hereby confirm having effected the following Insurance:
ASSURED:    TIDEWATER INC. and its Subsidiary, Affiliated and/or Associated Companies, Partnerships or Joint Ventures (See Addendum “B” attached).
EFFECTIVE:    May 18, 2017 through March 31, 2018
ON:    Vessels listed in Addendum “C” attached
INSURER:    Pental Insurance Co. Ltd.
POLICY NO:    M-5700
LIMITS:    A.    Hull equal to each vessel’s agreed value.
   B.    Liability $25,000,000.00 each occurrence.
CONDITIONS:    A.    American Institute Hull Clauses (June 2, 1977) as amended.
   B.    Marine Liability Form, including, but not limited to:

 

 

•    Collision/Tower’s Liability

•    Property Damage Liability

•    Contractual Liability

•    War Risks

•    Wreck Removal

•    Pollution Cleanup Liability

•    Cargo Excluded

•    Protection and Indemnity

•    Third Party Bodily Injury

•    Worldwide Navigation Limits, including Gulf of Mexico

•    In Rem

   

•    Crew Liability (but specifically excluding Australian Seaman and any and all benefits payable under the Compensation Act 1992, and any preceding acts and/or extensions, amendments, modifications and superseding legislation thereto)

•    Admiralty, including Jones Act and Maritime Employer’s Liability

•    Death on the High Seas Act

SPECIAL CONDITIONS:    See Addendum “A” attached.

“This certificate neither affirmatively nor negatively amends, extends,

or alters the coverage afforded by the policies listed herein.”

PENTAL INSURANCE CO LTD.            

ISSUED: May 26, 2017

 

LOGO

 

CI-20170526-02805      0000159  

 

 

May 26, 2017      Page 1 of 6  

ADDENDUM “A”

PENTAL INSURANCE CO. LTD.

SPECIAL CONDITIONS

Privilege is granted to charter and/or sub-charter and/or enter into operating agreements and/or perform towage and/or transport cargo and/or personnel (hereinafter referred to as “vessel operations”), and when performing such vessel operations and when the Assured is so required by written contract, this insurance shall include as an Additional Assured those parties whom the Assured is obligated to include as Additional Assureds and the Underwriters grant a waiver of their rights of subrogation (equitable or by assignment, expressed or implied, loan receipt or otherwise) against those parties for whom the Assured is required to secure a waiver of subrogation by such written contract. It is expressly understood that the naming of Additional Assureds and/or waiving of subrogation shall be limited to the risks which are assumed by the Named Assured by written contract. It is further understood that coverage provided to the Additional Assured shall not be deemed to include any contractual indemnifications, liabilities or indemnification expressly assumed by said Additional Assured.

Should the above described policy be cancelled or materially changed before the expiration date thereof, the insurer will endeavor to mail thirty (30) days written notice, but seven (7) days as respects War Risk, to the named certificate holder, but a failure to mail such notice shall impose no obligation or liability of any kind upon the issuer, company, its agents or representatives.

In the event of cancellation by the insurance company, the above policy has been endorsed to provide 30 days Notice of Cancellation (except for non-payment and war) to the certificate holder shown below, as required by written contract or order, subject to policy terms, conditions and exclusions.

 

May 26, 2017      Page 2 of 6  

ADDENDUM “B”

PENTAL INSURANCE CO. LTD.

NAMED INSURED

Tidewater Inc.

 

3291361 Nova Scotia ULC

Al Wasl Marine LLC

Antilles Marine Service Limited

Aqua Fleet Limited

Arabia Shipping Limited

Arrendadora de Naves del Golfo, S.A. de C.V., SOFOM, ENR.

Blue Fleet Limited

Cajun Acquisitions, L.L.C.

Compania Maritima de Magallanes Limitada

Crimson Fleet Limited

Divetide Limited

DTDW Holdings Limited

DTDW Marine Services B.V.

Equipo Mara, C.A.

Global Panama Marine Service, Inc.

Gold Fleet Limited

Green Fleet Limited

Grey Fleet Limited

Gulf Fleet Abu Dhabi

Gulf Fleet Middle East Limited

Gulf Fleet N.V.

Gulf Fleet Supply Vessels, L.L.C.

Hilliard Oil & Gas, Inc.

Indigo Fleet Limited

International Maritime Services, Inc.

Jackson Marine Limited

Java Boat Corporation

Java Boat Corporation B.V.

JB Holding Company B.V.

Logistica Mexicana del Caribe, S. de R.L. de C.V.

Mare Alta do Brasil Navegacao Ltda.

Maroon Fleet Limited

Mashhor Marine Sdn. Bhd.

Middle East Ships Limited

Navegadores Servicos de Apoio Maritimo Ltda.

Naviera Tidex, S. de R.L. de C.V.

Niugini Offshore Services Joint Venture

O.I.L. (Nigeria) Limited

Offshore Labuan Leasing Inc.

Offshore Marine Inc.

Offshore Pacific, Inc.

Orange Fleet Limited

OSA do Brasil Representacoes Ltda.

Pacific Tidewater Pty. Ltd.

Pan Marine do Brasil Ltda.

Pan Marine International Dutch Holdings, L.L.C.

Pan Marine International Inc. Freezone Co.

Pan Marine International, Inc.

Platinum Fleet Limited

Point Marine, L.L.C.

PT Tidewater Operators Indonesia

Purple Fleet Limited

Quality Shipyards, L.L.C.

S.O.P., Inc.

Sakhalin Holding, L.L.C.

Sakhalin Offshore Marine, L.L.C.

SEA Maritime Services Ptd. Ltd.

Servicios Costa Afuera de Mexico, S. de R.L. de C.V.

Servicios Maritimos del Carmen, S.A. de C.V.

Servicios Maritimos Ves, S. de R.L. de C.V.

Servicios y Representaciones Maritimas Mexicanas, S.A. de C.V.

Silver Fleet Limited

Sonatide Marine Services, Ltd.

Sonatide Marine, Ltd.

Southern Ocean Services Pte. Ltd.

Tide States Vessels, L.L.C.

Tide States, L.L.C.

Tideflo Marine Services Limited

Tidewater (India) Private Limited

Tidewater Al Rushaid Co., Ltd.

Tidewater Assets Limited

Tidewater Boats Limited

Tidewater Caribe, C.A.

Tidewater Corporate Services, L.L.C.

Tidewater Crewing Limited

Tidewater Cyprus Limited

Tidewater de Mexico, S. de R.L. de C.V.

Tidewater Dutch Holdings Cooperatief, U.A.

Tidewater GOM, Inc.

Tidewater GOM, Inc. Sucursal Colombia

Tidewater Hulls Limited

Tidewater Investment Cooperatief U.A.

Tidewater Investment SRL

Tidewater Marine, L.L.C.

Tidewater Marine Alaska, Inc.

Tidewater Marine Australia Pty. Ltd.

Tidewater Marine Charter Services Pte. Ltd.

Tidewater Marine Fleet, L.L.C.

Tidewater Marine Gabon S.A.

Tidewater Marine Hulls, L.L.C.

Tidewater Marine Indonesia Limited

Tidewater Marine International Dutch Holdings, L.L.C.

Tidewater Marine International Pte. Ltd.

Tidewater Marine International, Inc.

Tidewater Marine Kazakhstan, L.L.P.

Tidewater Marine Sakhalin, L.L.C.

Tidewater Marine Service (M) Sdn. Bhd.

Tidewater Marine Ships, L.L.C.

Tidewater Marine Technical Services (Shenzhen) Co., Ltd.

Tidewater Marine U.K. Limited

Tidewater Marine Vanuatu Limited

Tidewater Marine Vessels, L.L.C.

 

 

May 26, 2017      Page 3 of 6  

Tidewater Marine West Indies Limited

Tidewater Marine Western, Inc.

Tidewater Maritime Limited

Tidewater Mexico Holding, L.L.C.

Tidewater Offshore Sdn. Bhd.

Tidewater Properties Limited

Tidewater ROV Limited

Tidewater Ships Limited

Tidewater Subsea Crewing Limited

Tidewater Subsea International Limited

Tidewater Subsea ROV, L.L.C.

Tidewater Subsea, L.L.C.

Tidewater Support Services Ltd.

Tidewater Venture, Inc.

Tidewater Vessels Limited

Tidex Nigeria Limited

Troms Offshore Fleet 1 AS

Troms Offshore Fleet 2 AS

Troms Offshore Fleet 3 AS

Troms Offshore Fleet 4 AS

Troms Offshore Fleet Holding AS

Troms Offshore Management AS

Troms Offshore Marine AS

Troms Offshore Services AS

Troms Offshore Supply AS

Twenty Grand (Brazil), L.L.C.

Twenty Grand Marine Service, L.L.C.

Vermilion Fleet Limited

Vesselogistics Limited

Violet Fleet Limited

VTG Ships Limited

VTG Supply Boat Liberia Inc.

Yellow Fleet Limited

Zapata Gulf Marine International Limited

Zapata Gulf Marine L.L.C.

Zapata Marine Service (Nigeria) Limited

Zapata Servicos Maritimos Ltda.

 

May 26, 2017      Page 4 of 6  

ADDENDUM “C”

PENTAL INSURANCE CO. LTD.

SCHEDULE OF VESSELS

 

Adam Tide

Admiral Tide

Al Harthy Tide

Aldemir Souza Tide

Alden J Laborde

Allison Tide

Amadon Tide II

Ambrosius Tide

Anderson Tide

Ang Tide

Anna P

Archon Tide

Ario Tide

Art Carlson

Atef Tide

Bailey Tide

Bakama Tide

Barthel Tide

Belize Tide

Bergeron Tide

Big Joe Tide

Billy J Ramey II

Bobby Rawle Tide

Bonnette Tide

Boudreaux Tide

Bourgeois Tide

Boutros Tide

Boyd Tide

Brasher Tide

Breaux Tide

Brewster Tide

Broussard Tide

Burch Williams

C E Laborde Jr

Cabiness Tide

Callais Tide

Campos Tide

Canuku Tide

Carline Tide

Caroline Tide III

Carr Tide

Chaleur

Chauvin Tide

Chayari Tide

Cheryl Tide

Chiasson Tide

Chiloango Tide

Chinga Tide

Christina Tide

Cindy Brown Tide

Cindy Tide

Collard Tide

Collins Tide

Comotto Tide

Construct Tide II

Couper Tide

Courtney Tide

Coxon Tide

Currie Tide

Dalen Tide

Dalfrey Tide

Damon B Bankston

Danko Tide

David Tide II

Davidson Tide

Davis Tide

Day Tide

De Vries Tide

Dean Edward Taylor

Deenna Tide

Dela Llana Tide

Delancey Tide

Delatte Tide

Demarest Tide

Deroche Tide

Desoto Tide

Deville Tide

Diana Tide

Doenicke Tide

Domingue Tide

Donnelly Tide

D’Souza Tide

Du Moulin Tide

Dulaca Tide

Ebanks Tide

Ed Kyle

Errington Tide

Fanning Tide

Faridah Tide

Felton Tide

Flowers Tide

Fonseca Tide

Fortier Tide

Foster Tide

Futila Tide

Gammage Tide

Gary Tide

Garza Tide

Gerard Tide

Gleixner Tide

Goldblatt Tide

Greenwood Tide

Gro Tide

Gubert Tide

Guidry Tide

Gulf Scaup

Gulf Wigeon

Halat Tide

Handin Tide

Hanks Tide

Hart Tide

Hebert Tide

Ibinda Tide

Instone Tide

J Hugh Roff Jr

J Keith Lousteau

Jo Lynn Tide

John P Laborde

Jonathan Rozier

Jones Tide

Karen Tide II

Kehoe Tide

Ken C Tamblyn

Kenny Tide

Kirkconnell Tide

Kosarca Tide

Lacoste Tide

Laird Tide

Landry Tide

Leach Tide

Lebouef Tide

Lecompte Tide

Leese Tide

Leibe Tide

Lelean Tide

Leonard Tide

Lester Pollack

LH1

Lift Tide II

Lim Tide

Lloyd M Defelice

Lobito Tide

Lourdes Tide

Lousteau Tide

Loving Tide

Luanda Tide

Lubambi Tide

Lundstrom Tide

Luvassa Tide

Madonna Tide

 

 

May 26, 2017      Page 5 of 6  

 

Magic Tide II

Magnum Tide

Mahnke Tide

Maiden Tide

Malanje Tide

Malongo Tide

Mansour Tide

Maquidi Tide

Marty Quist Tide

Masleny Tide

Mawford Tide

Mckenny Tide

Melton Tide

Menendez Tide

Mervat Tide

Michele A Defelice

Milan Tide

Miller Tide

Miss Jane Tide

Miss Marilene Tide

Montet Tide

Montgomery Tide

Monty Orr Tide

Morrison Tide

Mossalem Tide

Namibe Tide

Nautical Tide

Nelson Tide

Netherland Tide

Olimpia

Olivier Tide

O’Rourke Tide

Ortalano Tide

Ozren Tide

Pat Taylor

Pat Tillman

Paterson Tide

Pattarozzi Tide

Paul W Murrill

Pelafigue Tide

Platt Tide

Pravit Tide

Premaraj Tide

Rafael Tide

Redel Tide

Reech Tide

Reg Mcnee Tide

Reynaldo Tide

Richard A Philippi

Richard M Currence

Richard Tide

Robert H Boh

Rogelio Tide

Romic Tide

Rozo Tide

Russell Tide

Saavedra Tide

Sabando Tide

Sam S Allgood

Sandra Tide

Sasi Tide

Savoy Tide

Segovia Tide

Shepherd Tide

Skipsey Tide

Smith Tide

Solar Tide II

Southern Tide

Spooner Tide

States Tide

Stephen Wallace Dick

Stipe Tide

Stricklin Tide

Susan Tide

Sutton Tide

T1 Abike

Tablate Tide

Terrel Tide

Terry Tide

Thompson Tide

Tidewater Enabler

Tola Tide

Tommy Sheridan Tide

Torrens Tide

Touchet Tide

Troms Arcturus

Troms Capella

Troms Castor

Troms Hera

Troms Lyra

Troms Mira

Troms Pollux

Troms Sirius

Trounson Tide

Urdaneta Tide

Ursula Tide

Vrana Tide

Walgamotte Tide

Walker Tide

War Admiral

Ward Tide

Weyland Tide

Wiggins Tide

Wilbert Tide

William C Hightower

William C O’Malley

William E Bright

William R Croyle II

Wise Tide II

Yeo Tide

Zambeze Tide

Zola Tide

 

 

May 26, 2017      Page 6 of 6  

LOGO

LOGO    CERTIFICATE OF INSURANCE   

 

Certificate Holder:    U.S. Department of Justice   
   Office of the United States Trustee   
   J. Caleb Boggs Federal Building   
   844 King Street, Suite 2207   
   Lockbox 35   
   Wilmington, DE 19801   

This is to certify that the policy of insurance as described below have been issued to the Insured named below and are in force at this time.

 

Policy Term:    April 1, 2016 12.01 am Central Standard Time, USA until April 1, 2019 12.01 am Central Standard Time, USA.
Policy Number:    26300 30091061
Named Insured:    Tidewater de México, S. de R.L. de C.V.
Sum Insured:    In respect of Marine Liability, this insurance shall pay up to USD $100,000,000 any one accident or occurrence excess of USD $1,000,000 any one accident or occurrence (Self Insured Retention).

 

VESSEL

    TOTAL VALUE      HULL      INCREASED VALUE      ESTIMATED
VESSEL DAYS
WORKED		  

DEVILLE TIDE

    USD 7,094,000      USD 5,320,500      USD 1,773,500        119  

BARTHEL TIDE

    USD 14,050,000      USD 10,537,500      USD 3,512,500        0  

CINDY TIDE

    USD 24,300,000      USD 18,225,000      USD 6,075,000        185  

DALFREY TIDE

    USD 14,300,000      USD 10,725,000      USD 3,575,000        0  

EBANKS TIDE.

    USD 7,459,000      USD 5,594,250      USD 1,864,750        120  

GLEIXNER TIDE

    USD 18,000,000      USD 13,500,000      USD 4,500,000        343  

GREENWOOD TIDE

    USD 20,700,000      USD 15,525,000      USD 5,175,000        353  

HEBERT TIDE

    USD 6,873,000      USD 5,154,750      USD 1,718,250        210  

LEIBE TIDE

    USD 18,000,000      USD 13,500,000      USD 4,500,000        333  

LOUSTEAU TIDE

    USD 6,175,000      USD 5,036,250      USD 1,678,750        353  

LOVING TIDE

    USD 7,290,000      USD 5,467,500      USD 1,822,500        265  

MAGIC TIDE II

    USD 240,000      USD 240,000           0  

MAGNUM TIDE

    USD 183,000      USD 183,000           240  

MILLER TIDE

    USD 18,000,000      USD 13,500,000      US 4,500,000        0  

OLIMPIA

    USD 15,000      USD 15,000           0  

O’ROURKE TIDE

    USD 10,000,000      USD 7,500,000      USD 2,500,000        0  

PAT TAYLOR

    USD 7,281,000      USD 5,460,750      USD 1,820,250        353  

ROZO TIDE

    USD 18,900,000      USD 14,175,000      USD 4,725,000        315  

SMITH TIDE

    USD 8,804,000      USD 6,603,000      USD 2,201,000        0  

SUSAN TIDE

    USD 1,350,000      USD 1,350,000           353  
  

 

 

     

 

 

     

 

 

     

 

 

  
   USD  209,554,000      USD  157,612,500      USD  51,941,500        3,542  
  

 

 

     

 

 

     

 

 

     

 

 

  

AV. INSURGENTES SUR 3500 - C.P. 14060 CIUDAD DE MÉXICO-APDOS. 22-365 Y 22-366 - DIR. CAB. SEGUROS INBURSA

F-834

LOGO

 

Subject to:    Certificate holder will receive 30 days’ notice of cancellation or material change.

The policy described above is subject to its own terms and conditions. This Certificate of Insurance does not extend or modifies the policy coverage and/or exclusions.

ATENTAMENTE

 

LOGO

Alejandro Baeza Kingston

Gerente Diversos Daños

AV. INSURGENTES SUR 3500 - C.P. 14060 CIUDAD DE MÉXICO-APDOS. 22-365 Y 22-366 - DIR. CAB. SEGUROS INBURSA

F-834

LOGO

LOGO    CERTIFICATE OF INSURANCE   
Certificate Holder:           

U.S. Department of Justice

Office of the United States Trustee

J. Caleb Boggs Federal Building

844 King Street, Suite 2207

Lockbox 35

Wilmington, DE 19801

   

This is to certify that the policy of insurance as described below have been issued to the Insured named below and are in force at this time.

 

Policy Term:    April 1, 2016 12.01 am Central Standard Time, USA until April 1, 2019 12.01 am Central Standard Time, USA.
Policy Number:    26300 30091070
Named Insured:    Tidewater de México, S. de R.L. de C.V.
Sum Insured Hull Section:   

In respect of Hull Interests, this insurance shall pay the hull limit schedule excess of USD $500,000 any one accident or occurrence including total loss (Self Insured retention).

 

In respect of increased value, this insurance shall pay as per vessel schedule. Each vessel shall be deemed to be separately insured.

 

VESSEL

    TOTAL VALUE      HULL      INCREASED VALUE      ESTIMATED
VESSEL DAYS
WORKED		  

DEVILLE TIDE

    USD 7,094,000      USD 5,320,500      USD 1,773,500        119  

BARTHEL TIDE

    USD 14,050,000      USD 10,537,500      USD 3,512,500        0  

CINDY TIDE

    USD 24,300,000      USD 18,225,000      USD 6,075,000        185  

DALFREY TIDE

    USD 14,300,000      USD 10,725,000      USD 3,575,000        0  

EBANKS TIDE.

    USD 7,459,000      USD 5,594,250      USD 1,864,750        120  

GLEIXNER TIDE

    USD 18,000,000      USD 13,500,000      USD 4,500,000        343  

GREENWOOD TIDE

    USD 20,700,000      USD 15,525,000      USD 5,175,000        353  

HEBERT TIDE

    USD 6,873,000      USD 5,154,750      USD 1,718,250        210  

LEIBE TIDE

    USD 18,000,000      USD 13,500,000      USD 4,500,000        333  

LOUSTEAU TIDE

    USD 6,175,000      USD 5,036,250      USD 1,678,750        353  

LOVING TIDE

    USD 7,290,000      USD 5,467,500      USD 1,822,500        265  

MAGIC TIDE II

    USD 240,000      USD 240,000           0  

MAGNUM TIDE

    USD 183,000      USD 183,000           240  

MILLER TIDE

    USD 18,000,000      USD 13,500,000      US 4,500,000        0  

OLIMPIA

    USD 15,000      USD 15,000           0  

O’ROURKE TIDE

    USD 10,000,000      USD 7,500,000      USD 2,500,000        0  

PAT TAYLOR

    USD 7,281,000      USD 5,460,750      USD 1,820,250        353  

ROZO TIDE

    USD 18,900,000      USD 14,175,000      USD 4,725,000        315  

SMITH TIDE

    USD 8,804,000      USD 6,603,000      USD 2,201,000        0  

SUSAN TIDE

    USD 1,350,000      USD 1,350,000           353  
  

 

 

     

 

 

     

 

 

     

 

 

  
   USD  209,554,000      USD  157,612,500      USD  51,941,500        3,542  
  

 

 

     

 

 

     

 

 

     

 

 

  

AV. INSURGENTES SUR 3500 - C.P. 14060 CIUDAD DE MÉXICO-APDOS. 22-365 Y 22-366 - DIR. CAB. SEGUROS INBURSA

F-834

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Conditions:    American Institute Hull Clauses
Subject to:    Certificate holder will receive 30 days notice of cancellation or material change.

The policy described above is subject to its own terms and conditions. This Certificate of Insurance does not extend or modifies the policy coverage and/or exclusions.

ATENTAMENTE

 

LOGO

Arq. Alejandro Baeza Kingston

Gerente Diversos Daños

AV. INSURGENTES SUR 3500 - C.P. 14060 CIUDAD DE MÉXICO-APDOS. 22-365 Y 22-366 - DIR. CAB. SEGUROS INBURSA

F-834

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LOGO

CERTIFICATE OF INSURANCE

ISSUED TO

U.S Department of Justice

Office of the United States Trustee

This Is To Certify That We Have Affected The Following Insurance:-

 

POLICY NO   :    3179/2017
Insured   :    Branch of Pan Marine International, Inc. Freezone Company
Period   :    With effect from 01/04/2017 to 31/3/2018
Interest   :   

A FRAME T5098

ANG TIDE

BURCH WILLIAMS

COMPOSE TIDE

CAROLINE TIDE III

JOHN P LABORDE

LEAONARD TIDE

LUNDSTROM TIDE

MCKENNY TIDE

RICHARD M CURRENCE

SOLAR TIDE II

ERRINGTON TIDE

STRiCKLIN TIDE

FORTIER TIDE

Coverage   :   

Section 1:

Hull

Increased Value

 

Section 2:

Marine Liability including Protection and Indemnity, Pollution liability, collision and tower liability, Marine Liability, Jones Act, Maritime Employers Liability, Shiperpairers Liability, Protection and Indemnity War Risks, Marine Builders Risk Protection and Indemnity, Marine Shipyard Pollution Liability, and Remotely Operated Vehicle (ROV) operations.

Sum Insured / Limits of liability/Excess   :   

Section 1:

In respect of Hull/Increased Value interests, this insurance shall pay the hull limit scheduled excess of USD 500,000.00 any one accident or occurrence including total loss [Self Insured retention].

    

Section 2:

In respect of Marine Liability Interests, this insurance shall pay up to USD 25,000,000.00 any one accident or occurrence excess of USD 1,000,000 any one accident or occurrence [Self Insured Retention).

LOGO

 

Conditions   :    This insurance is subject to the following:
     All terms & conditions as per original policy wording.
     The Egyptian law and jurisdiction.
     It is noted and agreed that the due premium shall be paid in full within 60 days from inception.
     The certificate holder will receive 30 days notice of Cancellation or material change.

 

Cairo, 25/5/2017   

Misr Insurance Company

LOGO

 

LOGO

LOGO   

CHUBB DE MEXICO,

COMPAÑIA DE SEGUROS, S.A. DE C.V.

 

Av. Santa Fe 505 piso 17, Col. Cruz Manca, Del. Cuajimalpa, C.P. 05349, México, D.F.

Tel. 5081 5600 ext. 5551 / 5573             Email: clandazuri@chubb.com / apelaez@chubb.com

México, D.F. a 30 de mayo de 2017

C E R T I F I C A D O

 

At’n:   

LINDA J. CASEY TRIAL ATTORNEY

U.S. Department of Justice

Office of the United States Trustee

J. Caleb Boggs Federal Building

844 King street, suite 2207

Lockbox 35

Wilmington, de 19801

Asegurado:    TIDEWATER DE MÉXICO, S. DE R.L. DE C.V.
Póliza:    DO977784-6
Ramo:    Responsabilidad Civil de Consejeros y Funcionarios
Vigencia:    01 de abril de 2017 - 01 de abril de 2018
CHUBB DE MEXICO, CIA. DE SEGUROS, S. A. DE C. V., emite el presente certificado para confirmar que la póliza de referencia se encuentra pagada y en vigor, bajo los siguientes términos y condiciones:
Grupo corporativo:   

Tidewater de México, S. de R.L. de C.V.

Arrendadora de Naves del Golfo, S.A. de C.V. SOFOM ENR

Logística Mexicana del Caribe, S. de R.L. de C.V.

Servicios Costa Afuera de México, S. de R.L. de C.V.

Límite de indemnización:    $5,000,000 Dólares.
Deducible:    $1,000,000 Dólares, para la cobertura de reembolso al grupo corporativo.
Se expide la presente certificación a petición del asegurado para los efectos legales correspondientes.

Atentamente,

Líneas Internacionales | Chubb Multinational Solutions | Chubb de México

Av. Santa Fe 505 piso 17, Col. Cruz Manca, Del. Cuajimalpa, C.P. 05349, México, D.F.

LOGO (55)-50815600 ext. 5551 / 5573 | LOGO H clandazuri@chubb.com / apelaez@chubb.com

In re Tidewater Inc., et al.

            Debtors.

    Case No. 17-11132 (BLS)

Exhibit C

Interim Cash Management Order

UNITED STATES BANKRUPTCY COURT

DISTRICT OF DELAWARE

 

 

    x   
In re:    :    Chapter 11
   :   
TIDEWATER INC., et al.,                            :    Case No. 17-11132 (BLS)
   :   
   :    (Jointly Administered)
Debtors.1    :    Re: Docket No. 6
     x   

INTERIM ORDER PURSUANT TO 11 U.S.C. §§ 105(a), 345(b), 363(b)(1),

AND 363(c)(1) AND FED. R. BANKR. P. 6003 AND 6004 (I) AUTHORIZING

DEBTORS TO (A) CONTINUE EXISTING CASH MANAGEMENT SYSTEM,

(B) MAINTAIN BUSINESS FORMS AND EXISTING BANK ACCOUNTS, AND

(C) CONTINUE INTERCOMPANY ARRANGEMENTS; (II) WAIVING THE

REQUIREMENTS OF 11 U.S.C. § 345(b); AND (III) GRANTING RELATED RELIEF

Upon the motion, dated May 17, 2017 (the “Motion”)2 of Tidewater Inc. and its debtor affiliates, as debtors and debtors in possession in the above-captioned chapter 11 cases (collectively, the “Debtors”), pursuant to sections 105(a), 345(b), 363(b)(1), and 363(c)(1) of the Bankruptcy Code and Bankruptcy Rules 6003 and 6004, for an interim order (the “Interim Order”) (i) authorizing the Debtors to (a) continue their existing Cash Management System; (b) continue using their existing Business Forms and Bank Accounts; and (c) continue their intercompany arrangements; (ii) a waiver of the requirements of section 345(b) of the

 

 

1  The Debtors in these chapter 11 cases, along with the last four digits of each Debtor’s federal tax identification number, if any, are: Tidewater Inc. (7776), Tidewater Marine Western, Inc. (1064), Tidewater Corporate Services, L.L.C. (7776), Tidewater Marine, L.L.C. (7779), Cajun Acquisitions, LLC (2365), Gulf Fleet Supply Vessels, L.L.C. (2194), Hilliard Oil & Gas, Inc. (4727), Java Boat Corporation (0278), Pan Marine International Dutch Holdings, L.L.C., Point Marine, L.L.C. (9586), Quality Shipyards, L.L.C. (2335), S.O.P., Inc. (3464), Tidewater Marine Alaska, Inc. (7549), Tidewater Marine International Dutch Holdings, L.L.C. (2289), Tidewater Marine Sakhalin, L.L.C. (7779), Tidewater Mexico Holding, L.L.C. (8248), Tidewater Venture, Inc. (7694), Twenty Grand (Brazil), L.L.C. (7730), Twenty Grand Marine Service, L.L.C. (7730), Zapata Gulf Marine, L.L.C. (5513), Tidewater GOM, Inc. (2799), Tidewater Subsea, L.L.C. (2022), Tidewater Subsea ROV, L.L.C. (3832), Tidewater Marine Fleet, L.L.C., Tidewater Marine Hulls, L.L.C., Tidewater Marine Ships, L.L.C., and Tidewater Marine Vessels, L.L.C. The Debtors’ principal offices are located at 601 Poydras Street, Suite 1500, New Orleans Louisiana 70130.
2  Capitalized terms used but not otherwise defined herein shall have the respective meanings ascribed to such terms in the Motion.

Bankruptcy Code; and (iii) authorizing the Debtor Banks to continue to charge bank fees and to charge back returned items to the Bank Accounts, whether such items are dated before, on, or after the commencement of these chapter 11 cases, all as more fully set forth in the Motion; and the Court having jurisdiction to consider the Motion and the relief requested therein pursuant to 28 U.S.C. §§ 157 and 1334; and the Amended Standing Order of Reference from the United States District Court for the District of Delaware, dated February 29, 2012; and consideration of the Motion and the requested relief being a core proceeding pursuant to 28 U.S.C. § 157(b); and venue being proper before the Court pursuant to 28 U.S.C. §§ 1408 and 1409; and due and proper notice of the Motion having been provided to the Notice Parties; and such notice having been adequate and appropriate under the circumstances, and it appearing that no other or further notice need be provided; and the Court having reviewed the Motion; and the Court having held a hearing to consider the relief requested in the Motion on an interim basis (the “Hearing”); and upon the Fanning Declaration, filed contemporaneously with the Motion, and the record of the Hearing; and the Court having determined that the legal and factual bases set forth in the Motion establish just cause for the relief granted herein; and it appearing that the relief requested in the Motion is necessary to avoid immediate and irreparable harm to the Debtors and their estates as contemplated by Bankruptcy Rule 6003, and is in the best interests of the Debtors, their estates, creditors, and all parties in interest; and upon all of the proceedings had before the Court and after due deliberation and sufficient cause appearing therefor,

IT IS HEREBY ORDERED THAT:

1. The Motion is granted on an interim basis as set forth herein.

2. The Debtors are authorized, pursuant to sections 363(c) and 105(a) of the Bankruptcy Code, to continue to manage their cash pursuant to the Cash Management System maintained before the Petition Date; to collect and disburse cash in accordance with the Cash Management System, including intercompany funding to Non-Debtor Affiliates; and to make ordinary course changes to their Cash Management System without further order of the Court.

 

2

3. Pursuant to section 105(a) of the Bankruptcy Code, each of the Debtor Banks is authorized to continue to honor transfers, as directed by the Debtors, of funds among the Bank Accounts.

4. The Debtors shall maintain accurate records of all transfers within the Cash Management System so that all postpetition transfers and transactions, including intercompany transfers, shall be adequately and promptly documented in, and readily ascertainable from, their books and records and the Debtors shall, on request, provide reasonable access to such records to the counsel to the Unofficial Noteholder Committee and counsel to the Credit Agreement Agent.

5. The Debtors are further authorized to (i) designate, maintain, and continue to use any or all of their existing Bank Accounts, including those listed on Schedule 1 annexed hereto, in the names and with the account numbers existing immediately before the Petition Date, (ii) deposit funds in, and withdraw funds from, such accounts by all usual means, including, without limitation, checks, wire transfers, ACH transfers, and other debits, (iii) pay any Bank Fees or other charges associated with the Bank Accounts, whether arising before or after the Petition Date, and (iv) treat their prepetition Bank Accounts for all purposes as debtor in possession accounts.

 

3

6. All Debtor Banks with which the Debtors maintained Bank Accounts as of the Petition Date are authorized to debit the Debtors’ accounts in the ordinary course of business without the need for further order of this Court for: (i) all checks drawn on the Debtors’ accounts which are cashed at such Debtor Bank’s counters or exchanged for cashier’s checks by the payees thereof prior to the Petition Date; (ii) all checks or other items deposited in one of Debtors’ accounts with such bank prior to the Petition Date which have been dishonored or returned unpaid for any reason, together with any fees and costs in connection therewith, to the same extent the Debtors were responsible for such items prior to the Petition Date; and (iii) all undisputed prepetition amounts outstanding as of the date hereof, if any, owed to any Bank as Bank Fees for the maintenance of the Cash Management System.

7. The Debtor Banks are authorized to charge, and the Debtors are authorized to pay, honor, or allow, both prepetition and postpetition fees, costs, charges, and expenses, including the Bank Fees, and charge back returned items to the Bank Accounts in the ordinary course.

8. The Debtor Banks shall not be liable to any party on account of: (a) following the Debtors’ representations, instructions, or presentations as to any order of the Court (without any duty of further inquiry); (b) the honoring of any prepetition checks, drafts, wires, or ACH transfers in a good faith belief or upon a representation by the Debtors that the Court has authorized such prepetition check, draft, wires, or ACH transfers; or (c) an innocent mistake made despite implementation of reasonable handling procedures.

9. Nothing contained herein shall prevent the Debtors from opening or closing any Bank Account(s) as they may deem necessary and appropriate, any relevant Bank is authorized to honor the Debtors’ requests to close such Bank Accounts, and, at least ten days prior to such opening or closure, the Debtors shall give advance written notice thereof to the U.S. Trustee, counsel to any statutory committee appointed in these chapter 11 cases, counsel to the Unofficial Noteholder Committee, and counsel to the Credit Agreement Agent; provided, further, that the Debtors shall open any new Bank Accounts at banks that have executed a Uniform Depository Agreement with the U.S. Trustee (a “UDA”) or at banks that are willing to immediately execute a UDA.

 

4

10. The Debtors are authorized to continue the Debt/Credit Card Program and the FX Bank Process in the ordinary course of business, subject to the terms and conditions thereof, including payment of any service fees incurred in connection therewith, and to pay any prepetition amounts related thereto; provided that prepetition payments authorized pursuant to this Interim Order on account of the Debt/Credit Card Program are capped at $30,000.

11. The Debtors’ time to come into compliance with section 345(b) of the Bankruptcy Code is hereby extended for a period of thirty (30) days from the Petition Date; provided, that such extension is without prejudice to the Debtors’ right to request a further extension of such period.

12. For all Debtor Banks at which the Debtors maintain Bank Accounts that are party to a UDA, within fifteen (15) days of the date of entry of this Interim Order, the Debtors shall (i) contact each such Bank, (ii) provide each such Bank with each of the Debtor’s employer identification numbers, and (iii) identify each of their Bank Accounts held at such Banks as being held by a debtor in possession in a chapter 11 case.

13. For all Debtor Banks at which the Debtors hold Bank Accounts that are not a party to a UDA, the Debtors shall use their good-faith efforts to cause such Banks to execute a UDA in a form prescribed by the U.S. Trustee within thirty (30) days of the date of this Interim Order. The U.S. Trustee’s rights to seek further relief from this Court on notice in the event that the aforementioned Banks are unwilling to execute such a UDA are fully reserved.

 

5

14. The Debtors are authorized to use their existing Business Forms without alteration, provided that once the Debtors’ existing checks have been used, the Debtors shall, when reordering checks, require the designation “Debtor in Possession” and the corresponding bankruptcy case number on all checks; provided, that, with respect to checks that the Debtors or their agents print themselves, the Debtors shall begin printing the “Debtor in Possession” legend and the bankruptcy case number, on such items within ten (10) days of the date of entry of this Interim Order.

15. Notwithstanding the Debtors’ use of a consolidated cash management system, the Debtors shall calculate quarterly fees under 28 U.S.C. § 1930(a)(6) based on the disbursements of each Debtor, regardless of which entity pays those disbursements.

16. The Debtors are authorized, but not directed, to issue new postpetition checks, or effect new electronic funds transfers, on account of prepetition obligations and claims authorized to be paid pursuant to an order of the Court, and to replace any prepetition checks or electronic fund transfer requests that may be lost or dishonored or rejected as a result of the commencement of the Debtors’ chapter 11 cases.

17. Nothing contained in the Motion or this Interim Order, nor any payment made pursuant to the authority granted by this Interim Order is intended to be, or shall be construed as, (i) an admission as to the validity of any claim against the Debtors, (ii) a waiver of the Debtors’ or any appropriate party in interest’s rights to dispute the amount of, basis for, or validity of any claim against the Debtors, (iii) a waiver of any claims or causes of action which may exist against any creditor or interest holder, or (iv) an approval, assumption, adoption, or rejection of any agreement, contract, lease, program, or policy between the Debtors and any third party under section 365 of the Bankruptcy Code.

 

6

18. Notwithstanding entry of this Interim Order, nothing herein shall create, nor is intended to create, any rights in favor of, or enhance the status of, any claim held by, any party.

19. The requirements of Bankruptcy Rule 6003(b) have been satisfied.

20. Under the circumstances of these chapter 11 cases, notice of the Motion is adequate under Bankruptcy Rule 6004(a).

21. Notwithstanding Bankruptcy Rule 6004(h), this Interim Order shall be immediately effective and enforceable upon its entry.

22. The Debtors are authorized to take all action necessary to the relief granted in this Interim Order.

23. The Court shall retain jurisdiction to hear and determine all matters arising from or related to the implementation, interpretation, and/or enforcement of this Interim Order.

24. The final hearing to consider the relief requested in the Motion shall be held on June 14, 2017 at 10.00 a.m. (Prevailing Eastern Time) and any objections or responses to the Motion shall be filed and served so as to be actually received on or before 4:00 p.m. (Prevailing Eastern Time) on June 7, 2017.

 

Dated: May 19, 2017   
            Wilmington, Delaware    LOGO
   THE HONORABLE BRENDAN L. SHANNON
   CHIEF UNITED STATES BANKRUPTCY JUDGE

 

7

Schedule 1

Bank Accounts

DEBTOR BANK ACCOUNTS

 

    

Account Owner

   

Bank Name

   

Location

   

Account Description

   

Currency

   

Account No.
(Last 4 Digits)

   

Debtor /
Non-Debtor

1.    Tidewater Inc.    JPMorgan Chase    USA    Funding (Global Master Account)    USD    7517    Debtor
2.    Tidewater Inc.    JPMorgan Chase    USA    L/C Security Account / Deposit Account    USD    7808    Debtor
3.    Tidewater Inc.    JPMorgan Chase    USA    Distribution Account    USD    3440    Debtor
4.    Tidewater Inc.    JPMorgan Chase    USA    Payroll Tax Account    USD    1694    Debtor
5.    Tidewater Inc.    Bank of America Merrill Lynch    USA    Equity Award Account    USD    7639    Debtor
6.    Tidewater Inc.    Northern Trust    USA    L/C Security Account    USD    2838    Debtor
7.    Tidewater Marine, L.L.C.    JPMorgan Chase    USA    Payroll Account    USD    1128    Debtor
8.    Tidewater Marine, L.L.C.    Whitney National Bank    USA    Payroll Account    USD    8342    Debtor
9.    Tidewater Marine International Dutch Holdings, L.L.C.    JPMorgan Chase    USA    Legal Requirement    USD    5233    Debtor
10.    Tidewater Inc.    Bank of America    USA    SSP Account    USD    6D34    Debtor
11.    Tidewater Inc.    Comerica Bank    USA    SERP Cash Account    USD    2042    Debtor
12.    Tidewater Inc.    Comerica Bank    USA    SERP Cash Account    USD    2051    Debtor
13.    Tidewater Inc.    UBS Financial Services Inc.    USA    SERP Cash Account    USD    2146    Debtor
14.    Tidewater Inc.    UBS Financial Services Inc.    USA    SERP Investment Account    USD    2102    Debtor
15.    Tidewater Inc.    UBS Financial Services Inc.    USA    SERP Investment Account    USD    2103    Debtor
16.    Tidewater Inc.    UBS Financial Services Inc.    USA    SERP Investment Account    USD    2104    Debtor
17.    Tidewater Inc.    UBS Financial Services Inc.    USA    SERP Investment Account    USD    2114    Debtor
18.    Tidewater Inc.    UBS Financial Services Inc.    USA    SERP Investment Account    USD    2117    Debtor
19.    Tidewater Inc.    JPMorgan Chase    USA    Political Action Committee    USD    5233    Debtor

NON-DEBTOR AFFILIATE BANK ACCOUNTS

 

    

Account Owner

   

Bank Name

   

Location

   

Account Description

   

Currency

   

Account No.
(Last 4 Digits)

   

Debtor /
Non-Debtor

1.    Tidewater Marine International, Inc.    Emirates NBD    UAE    Corporate Operating Account    AED    2001    Non Debtor
2.    Tidewater Marine International, Inc.    BGFIBank    Republic of Congo    Corporate Operating Account    CAF    0118    Non-Debtor
3.    Tidewater Marine International, Inc.    BGFIBank Gabon    Gabon    Corporate Operating Account    CAF    1155    Non-Debtor
4.    Tidewater Marine International, Inc.    CCEI Bank   

Equitorial

Guinea

    Corporate Operating Account    CAF    0120    Non-Debtor
5.    Tidewater Marine International, Inc.    Commercial International Bank    Egypt    Corporate Operating Account    EGP    0167    Non-Debtor
6.    Tidewater Marine International, Inc.    Commercial International Bank    Egypt    Split Contract Operating Account    USD    5237    Non-Debtor
7.    Tidewater Marine International, Inc.    HSBC    Qatar    Corporate Operating Account    QAR    0001    Non-Debtor
8.    Tidewater Marine International, Inc.    Hatton National Bank    Sri Lanka    Inactive    USD    5288    Non-Debtor
9.    Tidewater Marine International, Inc.    Citibank    India    Split Contract Operating Account    USD    2001    Non-Debtor
10.    Tidewater Marine International, Inc.    Citibank    UAE    Corporate Operating Account    USD    8637    Non-Debtor
11.    Tidewater Marine International, Inc.    Citibank    UAE    Corporate Operating Account    AED    8009    Non-Debtor
12.    Tidewater Marine International, Inc.    Banco Santander    Colombia    Split Contract Operating Account    COP    0553    Non-Debtor
13.    Tidewater Marine International, Inc.    JPMorgan Chase    Colombia    Split Contract Operating Account    USD    9281    Non-Debtor
14.    Tidewater Marine International, Inc.    Republic Bank Limited    Trinidad    Corporate Operating Account    TTD    7401    Non-Debtor
15.    Tidewater Marine International, Inc.    Aman Bank for Commerce    Libya    Inactive    LYD    3768    Non-Debtor
16.    Tidewater Marine International, Inc.    Mandiri Bank of Indonesia    Indonesia    Inactive    USD    2507    Non-Debtor
17.    Tidewater Marine International, Inc.    Mandiri Bank of Indonesia    Indonesia    Inactive    IDR    2085    Non-Debtor
18.    Tidewater Marine International, Inc.    Westpac Bank    New Guinea    Inactive    KINA    3296    Non-Debtor
19.    Tidewater Marine International, Inc.    Standard Chartered Bank    Namibia    Corporate Operating Account    NAD    5212    Non-Debtor

 

3

    

Account Owner

   

Bank Name

   

Location

   

Account Description

   

Currency

   

Account No.
(Last 4 Digits)

   

Debtor /
Non-Debtor

20.    Tidewater Marine International, Inc.    Royal Bank of Canada    Barbados    Investment Account    USD    7504    Non-Debtor
21.    Tidewater Marine International, Inc.    UBS   

Cayman

Islands

    Investment Account    USD    8593    Non-Debtor
22.    3291361 Nova Scotia ULC    JPMorgan Chase    Canada    International Operating Account    CAD    1179    Non-Debtor
23.    A1 Wasl Marine LLC    Citibank    UAE    Corporate Operating Account    USD    8629    Non-Debtor
24.    Divetide Limited    Bangkok Bank    Thailand    Split Contract Operating Account    THB    7471    Non-Debtor
25.    Gulf Fleet Abu Dhabi    Citibank    Abu Dhabi    Corporate Operating Account    AED    0419    Non-Debtor
26.    Gulf Fleet Abu Dhabi    Citibank    Abu Dhabi    Corporate Operating Account    USD    0818    Non-Debtor
27.    International Maritime Services, Inc.    Whitney National Bank    USA    Corporate Operating Account    USD    6677    Non-Debtor
28.    International Maritime Services, Inc.    Whitney National Bank    USA    Money Market Account    USD    4020    Non-Debtor
29.    Java Boat Corporation B.V.    Banco Santander    Brazil    Split Contract Operating Account    BRL    7202    Non-Debtor
30.    Java Boat Corporation B.V.    Unicredit Bank S.A.    Romania    Corporate Operating Account    RON    4000    Non-Debtor
31.    Java Boat Corporation B.V.    Unicredit Bank S.A.    Romania    Corporate Operating Account    EUR    4001    Non-Debtor
32.    Mare Alta do Brasil Navegacao Ltda.    Banco Santander    Brazil    Split Contract Operating Account    BRL    2370    Non-Debtor
33.    Navegadores Servicos de Apoio Maritimo Ltda.    JPMorgan Chase    Brazil    Split Contract Operating Account    USD    9767    Non-Debtor
34.    Niugini Offshore Services Joint Venture    Westpac Bank    New Guinea    Inactive    KINA    4275    Non-Debtor
35.    Offshore Labuan Leasing Inc.    Bank of America    Malaysia    Inactive    USD    9018    Non-Debtor
36.    Offshore Marine Inc.    Bank of America    Malaysia    Inactive    USD    8010    Non-Debtor
37.    Pan Marine do Brasil Ltda.    Banco Santander    Brazil    Split Contract Operating Account    BRL    2356    Non-Debtor
38.    Pan Marine International, Inc.    Standard Chartered Bank    Cameroon    Corporate Operating Account    CAF    6500    Non-Debtor
39.    Pan Marine International, Inc.    Commercial International Bank    Egypt    Split Contract Operating Account    EGP    0015    Non-Debtor
40.    Pan Marine International, Inc.    Commercial International Bank    Egypt    Split Contract Operating Account    USD    0031    Non-Debtor
41.    Pental Insurance Co. Ltd.    JPMorgan Chase    USA    Insurance Account    USD    0572    Non-Debtor

 

4

    

Account Owner

   

Bank Name

   

Location

   

Account Description

   

Currency

   

Account No.
(Last 4 Digits)

   

Debtor /
Non-Debtor

42.    PT Tidewater Operators Indonesia    Mandiri Bank of Indonesia    Indonesia    Inactive    USD    2053    Non-Debtor
43.    PT Tidewater Operators Indonesia    Mandiri Bank of Indonesia    Indonesia    Inactive    IDR    2061    Non-Debtor
44.    SEA Maritime Services Pte. Ltd.    Standard Chartered Bank    Singapore    Corporate Operating Account    SGD    6607    Non-Debtor
45.    Tidewater (India) Private Limited    Citibank    India    Inactive    USD    1001    Non-Debtor
46.    Tidewater A1 Rushaid Co., Ltd    Saudi British Bank    Saudi Arabia    International Operating Account    SAR    1001    Non-Debtor
47.    Tidewater Crewing Limited    JPMorgan Chase    USA    Payroll Account    USD    6924    Non-Debtor
48.    Tidewater Crewing Limited    Royal Bank of Scotland   

United

Kingdom

    Payroll Account   

GBP/

EUR

    1630    Non-Debtor
49.    Tidewater Crewing Limited    JPMorgan Chase    USA    Payroll Account    USD    4864    Non-Debtor
50.    Tidewater Cyprus Limited    JPMorgan Chase    Cyprus    International Operating Account    EUR    7097    Non-Debtor
51.    Tidewater Marine Australia Pty Ltd    Australia and New Zealand Banking Group Limited    Australia    Inactive    USD    3232    Non-Debtor
52.    Tidewater Marine Australia Pty Ltd    Australia and New Zealand Banking Group Limited    Australia    Split Contract Operating Account    AUD    6357    Non-Debtor
53.    Tidewater Marine Charter Services Pte. Ltd.    HSBC    Thailand    Split Contract Operating Account    USD    0090    Non-Debtor
54.    Tidewater Marine Charter Services Pte. Ltd.    HSBC    Thailand    Split Contract Operating Account    THB    0001    Non-Debtor
55.    Tidewater Marine International Pte. Ltd.    HSBC    Singapore    Corporate Operating Account    SGD    6001    Non-Debtor
56.    Tidewater Marine International Pte. Ltd.    HSBC    Singapore    Corporate Operating Account    USD    6186    Non-Debtor
57.    Tidewater Marine International Pte. Ltd.    HSBC    Singapore    Corporate Operating Account    SGD    8001    Non-Debtor
58.    Tidewater Marine International Pte. Ltd.    HSBC    Singapore    Corporate Operating Account    USD    6690    Non-Debtor
59.    Tidewater Marine Intl Pte LTD    Standard Chartered Bank    Singapore    Inactive    SGD    7382    Non-Debtor
60.    Tidewater Marine Service (M) Sdn. Bhd.    Affin Bank Berhad    Malaysia    Inactive    MYR    1740    Non-Debtor
61.    Tidewater Marine Service (M) Sdn. Bhd.    Bank of America    Malaysia    Corporate Operating Account    USD    1014    Non-Debtor
62.    Tidewater Marine Technical Services (Shenzhen) Co., Ltd.    HSBC    China    Inactive    USD    1072    Non-Debtor
                    
63.    Tidewater Marine Technical Services (Shenzhen) Co., Ltd.    Bank of China    China    Inactive    RMB    1001    Non-Debtor
                    

 

5

    

Account Owner

   

Bank Name

   

Location

   

Account Description

   

Currency

   

Account No.
(Last 4 Digits)

   

Debtor /
Non-Debtor

64.    Tidewater Support Services Limited    Royal Bank of Scotland   

United

Kingdom

    Distribution Account    GBP    4752    Non-Debtor
65.    Tidex Nigeria Limited    Zenith Bank    Nigeria    International Operating Account    NGN    2761    Non-Debtor
66.    Java Boat Corporation B.V.    Bank Leumi    Israel    International Operating Account    ILS    0030    Non-Debtor
67.    Troms Offshore Supply AS    Dnb Nor Bank    Norway    International Operating Account    NOK    9692    Debtor
68.    Troms Offshore Supply AS    Dnb Nor Bank    Norway    International Operating Account    CAD    3691    Debtor
69.    Troms Offshore Supply AS    Dnb Nor Bank    Norway    International Operating Account    GBP    6781    Debtor
70.    Troms Offshore Supply AS    Dnb Nor Bank    Norway    Payroll Account    NOK    9730    Debtor
71.    Troms Offshore Marine AS    Dnb Nor Bank    Norway    Payroll Account    NOK    3517    Non-Debtor
72.    Troms Offshore Fleet 1 AS    Dnb Nor Bank    Norway    International Operating Account    NOK    0283    Non-Debtor
73.    Troms Offshore Marine AS    Dnb Nor Bank    Norway    International Operating Account    NOK    3509    Non-Debtor
74.    Troms Offshore Fleet Holding AS    Dnb Nor Bank    Norway    International Operating Account    NOK    0151    Non-Debtor
75.    Troms Offshore Fleet 3 AS    Dnb Nor Bank    Norway    International Operating Account    NOK    6206    Non-Debtor
76.    Troms Offshore Fleet 4 AS    Dnb Nor Bank    Norway    International Operating Account    NOK    1502    Non-Debtor
77.    Troms Offshore Fleet 1 AS    Dnb Nor Bank    Norway    International Operating Account    GBP    1807    Non-Debtor
78.    Troms Offshore Fleet 3 AS    Dnb Nor Bank    Norway    International Operating Account    GBP    1351    Non-Debtor
79.    Troms Offshore Management AS    Dnb Nor Bank    Norway    International Operating Account    NOK    3029    Non-Debtor
80.    Troms Offshore Management AS    Dnb Nor Bank    Norway    Payroll Account    NOK    3053    Non-Debtor
81.    Troms Offshore Management AS    Dnb Nor Bank    Norway    International Operating Account    NOK    6787    Non-Debtor
82.    Troms Offshore Management AS    Dnb Nor Bank    Norway    International Operating Account    NOK    3061    Non-Debtor
83.    Troms Offshore Management AS    Dnb Nor Bank    Norway    International Operating Account    NOK    3096    Non-Debtor
84.    Troms Offshore Management AS    Dnb Nor Bank    Norway    International Operating Account    NOK    3134    Non-Debtor
85.    Troms Offshore Fleet 2 AS    Dnb Nor Bank    Norway    International Operating Account    EUR    5018    Non-Debtor
86.    Troms Offshore Fleet 2 AS    Dnb Nor Bank    Norway    International Operating Account    GBP    6749    Non-Debtor

 

6

    

Account Owner

   

Bank Name

   

Location

   

Account Description

   

Currency

   

Account No.
(Last 4 Digits)

   

Debtor /
Non-Debtor

87.    Troms Offshore Services AS    Dnb Nor Bank    Norway    International Operating Account    NOK    3576    Non-Debtor
88.    Troms Offshore Services AS    Dnb Nor Bank    Norway    International Operating Account    CAD    3675    Non-Debtor
89.    Troms Offshore Fleet 2 AS    Dnb Nor Bank    Norway    International Operating Account    NOK    1441    Non-Debtor
90.    TT Boat Corporation    Republic Bank Limited    Trinidad    Inactive    TTO    3501    Non-Debtor
91.    Vesselogistics Limited    Bank of Cyprus    Cyprus    Legal Requirement    EUR    8775    Non-Debtor
92.    Java Boat Corporation B.V.    Rabobank    Netherlands    Split Contract Operating Account   

USD/

EUR

    9570    Non-Debtor
93.    JB Holding Company, B.V.    Standard Chartered Bank   

United

Kingdom

    Legal Requirement    EUR    0596    Non-Debtor
94.    Tidewater Dutch Holdings Cooperatief U.A.    Rabobank    Netherlands    Legal Requirement    EUR    3927    Non-Debtor
95.    Tidewater Investment Cooperatief U.A.    JPMorgan Chase    Netherlands    Legal Requirement    EUR    2186    Non-Debtor
96.    Tidewater Investment SRL    Royal Bank of Canada    Barbados    Legal Requirement    USD    1114    Non-Debtor
97.    Arrendadora de Naves del Golfo, S.A. de C.V., SOFOM, ENR.    JPMorgan Chase    Mexico    International Operating Account    USD    0260    Non-Debtor
98.    Arrendadora de Naves del Golfo, S.A. de C.V., SOFOM, ENR.    Banamex    Mexico    Inactive    USD    0127    Non-Debtor
99.    Arrendadora de Naves del Golfo, S.A. de C.V., SOFOM, ENR.    Banamex    Mexico    International Operating Account    MXN    8063    Non-Debtor
100.    Tidewater de Mexico, S. de R.L. de C.V.    JPMorgan Chase    Mexico    International Operating Account    USD    9153    Non-Debtor
101.    Tidewater de Mexico, S. de R.L. de C.V.    Banamex    Mexico    International Operating Account    USD    5784    Non-Debtor
102.    Tidewater de Mexico, S. de R.L. de C.V.    Banamex    Mexico    International Operating Account    MXN    1085    Non-Debtor
103.    Tidewater de Mexico, S. de R.L. de C.V.    Banamex    Mexico    International Operating Account    MXN    4360    Non-Debtor
104.    Tidewater de Mexico, S. de R.L. de C.V.    Banamex    Mexico    Investment Account    MXN    0297    Non-Debtor
105.    Logistica Mexicana del Caribe, S. de R.L. de C.V.    Banamex    Mexico    International Operating Account    MXN    9787    Non-Debtor
106.    Logistica Mexicana del Caribe, S. de R.L. de C.V.    Banamex    Mexico    Investment Account    MXN    0787    Non-Debtor
107.    Logistica Mexicana del Caribe, S. de R.L. de C.V.    Banamex    Mexico    International Operating Account    USD    0917    Non-Debtor
108.    Servicios Costa Afuera de Mexico, S. de R.L. de C.V.    Banamex    Mexico    Payroll Account    MXN    4900    Non-Debtor

 

7

    

Account Owner

   

Bank Name

   

Location

   

Account Description

   

Currency

   

Account No.
(Last 4 Digits)

   

Debtor /
Non-Debtor

109.    Logistica Mexicana del Caribe, S. de R.L. de C.V.    Banco Nacional de Mexico    Mexico    Operating Account    USD    0628    Non-Debtor
110.    Tidewater Marine Charter Services Re. Ltd.    Standard Chartered Bank    Thailand    Split Contract Operating Account    THB    2683    Non-Debtor
111.    Tidewater Marine Charter Services Pte. Ltd.    Standard Chartered Bank    Thailand    Split Contract Operating Account    USD    2691    Non-Debtor
112.    A1 Wasl Marine LLC    Citibank    UAE    Corporate Operating Account    USD    8602    Non-Debtor
113.    Terra Nave Servicios Maritimos Ltda    Bankco Santander    Brazil    Inactive    BRL    0079    Non-Debtor

 

8

In re Tidewater Inc., et al.

            Debtors.

    Case No. 17-11132 (BLS)

Exhibit D

Retainers Paid (Form IR-2)

In re: Tidewater Inc. et al.                   Case No. 17-11132
   Debtor                Reporting Period: 6/7/2017

SCHEDULE OF RETAINERS PAID TO PROFESSIONALS

(This schedule is to include each Professional paid a retainer (1))

 

     Wire                Amount Applied        

Payee

    Date    Number    Name of Payor    Amount      to Date     Balance(1)  

ALIXPARTNERS, LLP

    Various    WIRE    Tidewater Inc.    $ 300,000      $ 0     $ 300,000  

EPIQ BANKRUPTCY

    Various    WIRE    Tidewater Inc.    $ 25,000      $ 0     $ 25,000  

JONES WALKER LLP

    10/18/2016    WIRE    Tidewater Inc.    $ 125,000      ($ 103,314 )    $ 21,686  

KPMG

    11/10/2016    WIRE    Tidewater Inc.    $ 400,000      ($ 400,000 )    $ 0  

RICHARDS, LAYTON, & FINGER

    Various    WIRE    Tidewater Inc.    $ 320,558      ($ 186,054 )    $ 134,504  

WEIL, GOTSHAL & MANGES LLP

    Various    WIRE    Tidewater Inc.    $ 1,250,000      ($ 1,150,000 )    $ 100,000  

Notes:

 

(1) Retainers and balances listed are estimates based on either retention applications or the Debtors’ records. To the extent necessary, amounts will be reconciled and updated on each Professionals’ first fee application.