Bidders will have to top the stalking-horse bids already put forth by Cal Dive International and major creditor GE Capital for the vessels.
The auction will be held at 9:00am at the law office of Heller, Draper, Hayden, Patrick&Horn on 650 Poydras Street.
Financial analysts Raymond James&Associates will help evaluate the bids and co-ordinate inspections and due diligence.
Bids for individual vessels, groups of vessels or for the entire fleet will be accepted, provided certain conditions are met.
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