The clock was ticking at TradeWinds’ press time on a potential Chapter 11 bankruptcy filing by Genco Shipping & Trading Ltd, one of Georgiopoulos’s two publicly listed dry bulk companies.
While some who have been tracking Genco’s attempts to restructure continue to speak of the filing as inevitable, there was no comment forthcoming from the owner’s camp this week.
Genco is facing a 21 March deadline on a deal with senior lenders that prevents the company from falling into default.
