Economou’s Ocean Rig files for bankruptcy

MARCH 28, 2017 — Deepwater drilling company Ocean Rig UDW Inc. (NASDAQ:ORIG) and various subsidiaries have entered into a restructuring support agreement with creditors and have presented winding up petitions in the

Hanjin Shipping: From the eye of the storm and back

MARCH 8, 2017—Back this past February, a South Korean court declared Hanjin Shipping bankrupt. The bankruptcy sent shockwaves through the shipping industry. Montgomery McCracken’s Wook Chung, Esq., the former general counsel for

ISHC set to exit Chapter 11 as SEACOR unit

MARCH 7, 2017 — International Shipholding Corporation (ISHC) says it has completed an important step towards emerging from bankruptcy with the confirmation of its Chapter 11 plan of reorganization by the U.S.

Court declares Hanjin Shipping bankrupt

FEBRUARY 17, 2017 — South Korea’s Yonhap news agency reports that Hanjin Shipping Co. was today officially declared bankrupt by the Seoul Central District Court, after a two-week period for appeal expired.

Toisa files for Chapter 11 bankruptcy

JANUARY 30, 2017 — Toisa Limited and 23 of its affiliated vessel-owning companies announced today that it has filed voluntary petitions for reorganization under Chapter 11 of the Bankruptcy Code in the

OSG and Itkin agree tax case settlements with SEC

JANUARY 23, 2017 — The Securities and Exchange Commission today charged tanker company Overseas Shipholding Group, Inc. (NYSE: OSG) and its former chief financial officer Myles R. Itkin with failing to recognize

International Shipholding files for Chapter 11

AUGUST 1, 2016 — International Shipholding Corporation (OTCQX: ISHC) reports that it and 18 subsidiaries have each filed voluntary petitions for relief under Chapter 11 of title 11 of the United States

Signal International in $5 million settlement with EEOC

DECEMBER 19, 2015 — The U.S. Equal Employment Opportunity Commission (EEOC) reports that bankrupt Mobile, AL, headquartered shipbuilding and repair company Signal International, LLC will pay an estimated $5 million to 476

Court gives nod for Signal bankruptcy auction

SEPTEMBER 3, 2015 — The U.S. Bankruptcy Court for the District of Delware has given the go ahead for the sale of the assets of shipbuilder Signal International. Signal International filed for

OSG makes management changes

DECEMBER 21, 2014 — Tanker operator Overseas Shipholding Group, Inc. (NYSE MKT:OSGB) announced several key management changes Friday as it continues to execute its strategy following emergence from bankruptcy in August 2014.