Genco Shipping & Trading is fighting two challenges to its pre-packaged bankruptcy plan after a government watchdog joined a shareholders group in the opposing camp.
Shareholders recently registered opposition to the plan for overwhelmingly rewarding creditors and insiders in a scheme that they say manipulates analysis to ascribe too little value to the New York bulker owner, among other complaints.
US trustee William Harrington, a Justice Department official who oversees the administration of bankruptcies across much of the northeast, joined in with a more limited challenge, arguing that the bankruptcy judge should throw out two provisions of the plan.
But
