Bankruptcy News

We've summarized the latest docket activity and news for publicly traded companies currently operating under U.S. Bankruptcy Court protection.

Bankruptcy/Chapter 11 / Energy / Transportation

Primorsk International Shipping Chapter 11 Petition Filed

Privately-held Primorsk International Shipping Limited (aka PISL) and nine affiliated Debtors filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of New York, case number 16-10073. The Company, which offers marine transportation of bulk liquid cargoes, is represented by Andrew G. Dietderich of Sullivan & Cromwell and AlixPartners' managing director Holly Felder Etlin is serving as chief restructuring officer. 100% of Primorsk International Shipping Limited's equity is directly owned by Apington Investments Limited, and each of the affiliated Debtors is 100% owned by Primorsk International Shipping Limited. Although headquartered in Cyprus, the Company notes that the principal location of its assets is at sea. Primorsk International Shipping Limited's Chapter 11 petition indicates assets greater than $100 million.

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