Liberty Global Logistics has muscled into the race for the assets of International Shipholding (ISH), presenting itself as a rival to Seacor Holdings for the diversified shipowner amid its Chapter 11 bankruptcy case in New York.
The Philip Shapiro-led car carrier owner, an affiliate of bulker owner Liberty Maritime, has won the ability to submit a competing offer after Seacor struck a restructuring support agreement last month as a step towards a plan that could see it buy most of ISH.
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