OSG requests more time for restructuring

Bankrupt US tank carrier OSG has requested more time to finish the plan for a corporate restructuring of the carrier, according to several media.

Photo: PR-foto: DHT Holdings

In 2012 US tank carrier Overseas Shipholding Group (OSG) filed for Chapter 11 bankruptcy protection, and since then the company has been working on a corporate restructuring plan, which could now end up being further postponed.

According to several media, OSG has asked the court in New York, which handles the case, for a 30-day postponement for the presentation of a corporate restructuring plan. If approved, this will mark the third time the plan is postponed, and the company will have to present its plan on March 31st. The new request comes two weeks after a majority of the carrier's banks presented their strategy for pulling the company out of bankruptcy, says Lloyd's List.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Further reading

Related articles

Latest news

See all jobs