US bankruptcy judge Robert Drain may have to get used to being called a tool, but it’s a label that’s not likely to change as more shipping and offshore companies weigh Chapter 11 reorganisations in New York.
Drain provided the rare judge’s view of shipping bankruptcies during an appearance at the annual Marine Money conference in New York today.
Drain sat in the audience during an earlier panel on shipping restructurings, in which the notion of the utility of a bankruptcy judge’s authority came up again and again.
