Rand Logistics and six affiliated debtors have filed for Chapter 11 protection with US Bankruptcy Court.
The provider of bulk freight shipping services on the Great Lakes submitted a plan to avoid bankruptcy through a Joint Prepackaged Chapter 11 Plan of Reorganization and related Disclosure Statement.
The plan has been negotiated with sole lender Lightship Capital, an affiliate of American Industrial Partners (AIP), under a second lien credit agreement.
