A Better Deal?

There is no doubt that Rand Logistic’s (“Rand”) non-binding offer to acquire most of the assets of U.S. Shipping Partner L.P (“USSLP”). is superior to the Debtor’s reorganization plan and the most viable exit for the lenders which control the equity. Prior to the filing the company had been pursuing all possible alternatives including the sale of assets with no success. Moreover, with the filing and the agreement to accept equity, the lenders have fully written down their loans positioning themselves for a recovery and a way out of this morass. The question is whether Mr. Levy is offering fair

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