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Bank questions ISH deal terms for MPP sale
Capital One's lawyers say sale to Oslo Bulk is not adequate to protect its claim against International Shipholding.
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Found an interesting story?
Bank questions ISH deal terms for MPP sale
Capital One's lawyers say sale to Oslo Bulk is not adequate to protect its claim against International Shipholding.
Capital One has filed an objection to terms of International Shipholding (ISH)'s plan to sell a multipurposeship to Oslo Bulk, the vessel's bareboat charterer.
The US bank's lawyers claim the deal to sell the 13,000-dwt Oslo Wave (built 2000) does not provide sufficient protection of its claims against the Alabama shipowner, which is undergoing a Chapter 11 restructuring in a US Bankruptcy Court in New York.
But the the attorneys at law firm McGlinchey Stafford say negotiations with ISH are ongoing and
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