RemoteMD files for bankruptcy, local companies owed over $100m

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RemoteMD LLC, a United States offshore medical provider, has filed for bankruptcy in the United States, leaving companies here wondering how they would recover more than $100 million for services that they were subcontracted to perform for oil and gas employees.

RemoteMD declared bankruptcy on October 18, 2018, and has asked the Eastern District of Louisiana Court to grant it Chapter 11 rights in order to reorganize and keep its business running. Local creditors are concerned how they will be able to retrieve their debts in the absence of similar legislative advantages in Guyana, as they are also unaware what assets RemoteMD LLC holds in Guyana.

 

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