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

International Shipholding Plan Filed

International Shipholding filed with the U.S. Bankruptcy Court a First Amended Modified Joint Chapter 11 Plan of Reorganization. According to documents filed with the Court, "Holders of Allowed Claims that are covered by the Debtors' general liability insurance policies shall be entitled, in full satisfaction, settlement, release, and discharge of, and in exchange for such Allowed Claims, to proceed with the liquidation of such Allowed Claims, including any litigation pending as of the Petition Date and seek payment of such Claims from applicable insurance policies, to the extent permitted by applicable non bankruptcy law (including the applicable insurance policies); provided, however, that, upon the settlement or resolution of the litigation underlying the Allowed Claim, such Claim shall be treated as a General Unsecured Claim to the extent any such portion of the settlement or judgment is not covered by the applicable insurance policy; provided, further, that the Debtors or Reorganized Debtors, as applicable, shall have no obligation to pay any amounts in respect of prepetition deductibles."

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