But the company faces a new $6.85m claim from John Fredriksen's Knightsbridge Tankers relating to a bareboat charter.
A Bermuda court backed Titan by quashing a winding-up petition filed by shareholder Saturn Petrochemical Holdings Limited (SPHL) on the grounds that SPHL is not a creditor.
The formal striking out will take place on 22 July to allow for a claim by Knightsbridge's KTL Camden to be substituted in its place.
This
