Altera Infrastructure is a post-confirmation case: the plan was confirmed on November 4, 2022, became effective on January 6, 2023, and the debtor is now reporting quarterly implementation status while awaiting a final decree, with an application expected by June 30, 2026 in the Chapter 11 Post-Confirmation Report for Quarter Ended March 31, 2026Dkt. 184.
The case began with the August 12, 2022 chapter 11 filing by Altera Infrastructure Project Services LLC, part of an offshore energy infrastructure group with FPSO, FSO, and ocean towage operations, through the Chapter 11 Voluntary PetitionDkt. 1. The restructuring centered on a substantial prepetition capital structure, including IntermediateCo notes, an IntermediateCo revolving credit facility, credit agreement claims, guarantee claims, and unsecured notes and general unsecured claims; the plan recovery schedule later reflected roughly $2.49 billion of allowed secured claims, $294.8 million of allowed general unsecured claims, and differentiated recoveries across those classes in the Post-Confirmation Report attachmentsDkt. 185.
Current reporting shows no cash disbursements or non-cash transfers during the March 31, 2026 quarter, no professional fees or expenses incurred or paid in that period, and cumulative plan payments limited to $930,000 on priority claims and $5.6 million on general unsecured claims. Secured claims remain shown with $0 anticipated or paid cash distributions against approximately $2.49 billion in allowed claims, while general unsecured recoveries are shown at about 2% of allowed claims in the .
