In a restructuring talk moderated by bond specialist CRT Capital, Evan Flaschen and Bob Burns of Bracewell & Giuliani said the US tanker owner’s size and reputation as a consistent operator of quality assets sets it apart from others that have sought protection from creditors in court.
Flaschen, who gained recognition in the maritime arena during the liquidation of Marco Polo Seatrade and is still working on the drawn out restructuring of Omega Navigation, said OSG’s situation, if it were to enter Chapter 11, would be unique in that it still has money in the bank.
“In
