KUALA LUMPUR, Sept 1 (Bernama) -- MACCO Restructuring Group, a national, middle-market-focused interim leadership and financial advisory firm, recently announced that MACCO Managing Director David Weinhoffer, serving as Chief Restructuring Officer for LaForta - Gestão e Investimentos, Sociedade Unipessoal, Lda., successfully assumed control of and transited La Muralla IV, a sixth generation, semi-submersible oil drilling rig.
Under Weinhoffer’s leadership, the massive drilling rig, capable of operating in 10,000 ft of water and drilling to a 35,000 ft depth, has been successfully towed across the Gulf of Mexico from Tampico, Mexico to Freeport, Grand Bahamas.
In a statement, Drew McManigle, Founder and CEO of MACCO said: “David and the MACCO La Forta team working collaboratively with legal counsel, accomplished what initially appeared, almost unachievable. He successfully navigated international troubled waters in order to preserve stakeholder’s value.”
MACCO, which has extensive restructuring experience in energy, including both onshore and offshore oil and gas exploration and production, was able to ensure the safe transit of the drilling rig.
Weinhoffer led the complex international efforts to assume control of the rig and assure its safety and that of its crew despite numerous operational and regulatory challenges. His deep knowledge of seafaring, marine operations, business restructuring and bankruptcy were central to the successful transit.
La Muralla IV is being readied for a marketing and sale process expected to commence in earnest next month. Under the proposed bid procedures, Weinhoffer will direct the marketing and sale process, including by soliciting and evaluating bids for La Muralla IV.
The proposed bid deadline is Oct 26, 2022, with sale approval expected three weeks later and sale consummation by November-end.
For more information, visit: www.macco.group.
-- BERNAMA
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