Bankruptcy Judge Sean Lane has signed off on the plan today at the US Bankruptcy Court in New York, according to the Wall Street Journal.
The New York bulker owner filed for bankruptcy just over a month ago with a fleet of 45 handymax and supramax vessels.
Its restructuring plan sweeps away $975m in debt but gives the holders of Sophocles Zoullas-led Eagle’s credit facilities an initial 99.5%
