Tag Archives: bankruptcy
Effective Chapter 15 Strategies for Marine Equipment Lessors and Maritime Lien Creditors
Most of the significant maritime bankruptcies of the last five years, including Hanjin and OW Bunkers, have utilized Chapter 15 of the United States Bankruptcy Code. Debtors have filed insolvency proceedings outside of the U.S., and then used Chapter 15 to assist those proceedings. Frequently, however, U.S. Bankruptcy Courts in Chapter 15 cases have… Read More »
OW Bunker Series: OW’s U.S. Entities File for Chapter 11
OW Bunker’s three U.S. entities (OW Bunker Holding, OW Bunker USA, and OW Bunker North America) filed for Chapter 11 bankruptcy protection yesterday (November 13) in the United States Bankruptcy Court for the District of Connecticut. The actual petitions can be downloaded here: OW Bunker Holding, OW Bunker USA, OW Bunker North America. The… Read More »
OW Bunker Series: Dealing With the Collapse of OW Bunker
A recent TradeWinds article (available here in PDF format) discusses the race by bunker suppliers to get in front the rapidly evolving bankruptcy of OW Bunker. If you are an actual or potential creditor of OW Bunker or any of its subsidiaries around the globe, contact Steve Simms for assistance.
How Is It Possible to Emerge From Bankruptcy in Three to Five Years?
No one wants to go into bankruptcy. It is the financial version of waving the white flag, surrendering to an adverse situation and giving up everything, right? Well, not exactly and not always. Chapter 13 bankruptcy for individuals and businesses is also called re-organization, a means to hold off creditors in an orderly fashion… Read More »
